The Ritz-Carlton Hotel Company, in collaboration with Asian residential apartment developer Far East Consortium, will open a new luxury hotel, The Ritz-Carlton, Perth in Australia.

The new hotel will be developed by Far East under an agreement signed with the company, and marks the return of Ritz-Carlton to the country.

Far East Consortium will work in association with the Western Australian Government and the Metropolitan Redevelopment Authority (MRA) to build the 204-room Ritz-Carlton property along with residential apartments.

Ritz-Carlton president and chief operations officer Herve Humler said, "We have great partners in Far East Consortium and look forward to opening this incredible hotel in 2018."

Situated in the centre of the riverside Elizabeth Quay development on Perth’s waterfront, the new property will be the city’s first international luxury hotel and will offer views of the Swan River.

Ritz-Carlton is expected to break ground for The Ritz-Carlton, Perth during 2015 and will build the hotel as part of a mixed development property consisting of ground floor retail space, waterfront fine dining experiences, as well as one, two and three bedroom apartments.

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"We look forward to creating a set of landmark buildings on the Perth waterfront which will herald Perth’s arrival as a world class city in Australasia."

Located in the commercial and business district in the neighbourhood of Perth Convention and Exhibition Centre, Elizabeth Quay is expected to strengthen Perth’s position as an international and contemporary destination with nearby attractions of Kings Park and the Botanical Garden.

Far East Consortium chairman Tan Sri David Chiu said the consortium is privileged to have been selected as the developer of the project.

"We look forward to creating a set of landmark buildings on the Perth waterfront which will herald Perth’s arrival as a world class city in Australasia," David Chiu added.

With the signing of the Perth property, Ritz-Carlton will increase its presence in Asia-Pacific to 44 hotels and resorts in the region by 2018.