This article was sourced from www.goldcoast.com.au. 

Share investors who staked their faith in the Gold Coast this past year are miles ahead of the rest of the market.The combined worth of the city's listed companies staged a remarkable comeback in 2009, surging 72 per cent to $4.3 billion. The rise was more than double that of the ASX 200, which closed yesterday at 4870.6, just 30 per cent up on the previous year.

The Gold Coast rebound should have been expected after the city's corporate fraternity was among the hardest hit by the 2008 collapse. This time last year, Coast company values were decimated from $9 billion at the end of 2007 to just $2.5 billion.

Even our biggest company, Billabong, was swept up in the tidal wave of negativity. Today, Billabong remains our leading corporate light with its share value jumping from $1.6 billion to $2.7 billion. The shares are still well off their record highs and could deliver another boost to the Gold Coast's capital base over the next year if the US retail market rebounds further.

This year's list of Gold Coast corporations is much thinner, down to 21 from 27 last year, with City Pacific and Octaviar (formerly MFS) both in liquidation and a raft of other companies lost through receiverships and relocations.

The latest figure is even more remarkable as the $4.3 billion capitalisation comprises just 15 companies that are currently trading on the Australian Securities Exchange, compared to 18 counted last year.

Shares in six companies, including Raptis Group, Asset Loans and CP1, remain suspended with their true market value seriously in doubt.

The surprise packages for the year were two emerging resource companies, copper and gold explorer CuDeco and coalseam gas hopeful Icon Energy.

CuDeco is now the Gold Coast's second-largest company with a market capitalisation of $697 million, more than triple its value a year ago.

Icon Energy, after a strong 2008, is worth $173 million, up 154 per cent since the end of 2008. The sweet irony for Icon is that it has gained from City Pacific's loss after the gas explorer picked up the former financier's Broadbeach headquarters at a huge discount from receivers.

PNG copper explorer Coppermoly delivered the biggest gain for the year at 635 per cent.

However, the year's most consistent performer has been Donut King and Brumby's Bakeries owner Retail Food Group, whose shares have shot 130 per cent higher to $2.65. RFG has been on a major acquisition spree since 2006, and last month announced it was adding Big Dad's Pies to its stable of brands.

Property shares remain in the doldrums, although improved market conditions could see improvements over the next 12 months.

Affordable housing company GEO Property Group has almost doubled in value after detaching itself from the MFS collapse.

However, high-rise king Sunland has only managed to hold steady. Sunland's fortunes could see a turnaround this year as the company ramps up its Australian operations after taking a breather from the troubled Dubai market.