Hundreds of workers are striking at a troubled $1 billion development on the Gold Coast, as subcontractors fear they will lose hundreds of thousands of dollars on the project.

The CFMEU's Queensland assistant secretary Jade Ingham said between 700 and 800 workers voted to down tools this morning at the Jewel resort in Surfers Paradise.

"Workers have made a decision to withdraw their labour and try and get some answers from Multiplex and Yuhu, the developer," he said.

"There is a real concern about job security and entitlements here."

Tensions have been high at the building site since early last week when the builder Multiplex sent a message to many subcontractors drastically reducing the work they were to do on the development's three high-rise buildings.

The developer, the Yuhu Group Australia, released a statement last week saying it was searching for a hotel operator, and some work was suspended while that process was underway.

The message from Multiplex instructed most of the contractors doing internal work on two apartment towers to stop work on the level they were already on.

The construction union said that led to 150 job losses last week.

It said unions want an urgent meeting with Yuhu Group Australia and want the Queensland Government and the Gold Coast Mayor Tom Tate to intervene.

Workers are concerned about job security and entitlements, CFMEU assistant secretary Jade Ingham (front centre) said. ( ABC News: Elise Kinsella )

One contractor, who did not want to be named, told the ABC he was owed hundreds of thousands of dollars for supplies he had already ordered before he was told to halt work.

He said he feared he would not be paid.

"Multiplex promised they will do their very best to make sure the developer pays that, but not to expect it anytime soon," he said.

The contractor said he made 15 employees redundant because of the uncertainty.

"It is the first time I have had to really look at letting people go," he said.

"It is really difficult trying to explain to them under normal circumstances they would have jobs until April."

The subbie told the ABC he believed the developer would complete the resort's hotel and the 80 to 90 apartments that had been sold, but not the internal parts of the rest of the apartments that had not yet sold.

The development is planned to include 512 apartments.

Developer says project will be built

Yuhu Group Australia earlier released statements saying it was committed to finishing the project as scheduled and the project was not contingent on apartment sales.

An artist's impression of the completed Jewel development. ( (Supplied) )

It said there should not be any loss in overall man hours on the development and subcontractors would be paid for any supplies already ordered under contracts that cannot be returned.

Both Yuhu Group Australia and Multiplex declined to comment.

Gold Coast Mayor Tom Tate was due to speak to media at a prearranged press conference for another event this morning, but left without comment.

A short time later, a staff member sent journalists a text message saying Cr Tate declined to comment on Jewel and it was a matter between the owner and head contractor to communicate.

The federal member for the Gold Coast seat of Moncrieff, Steven Ciobo, said there seemed to be an information vacuum about the work schedule.

He has called for greater clarity from the builder and developer.

"Even if it is bad news, it is going to provide these workers with some certainty about what is going on rather than leaving them in limbo," he said.

The ABC has contacted the Queensland Government for comment.