Cork-based company Cape Verde Development has announced a €2 billion investment in the Cape Verde Islands, where it is to build a golf and leisure resort.
The Calhelta Bay resort on the island of Sal will feature two championship standard golf courses designed by golfer Ernie Els. Nikki Beach, a sun resort chain, will open at the site, alongside an aqua park, spa hotel and a marina.
Along with its local partners, Cape Verde Development will develop under 6,000 residential units at the 425 hectare coastal resort.
Local planning law would allow for more than 30,000 units at the site, but the company says it will keep the natural environment in mind as part of a bid to become one of the top 10 resorts in the world.
The Cape Verde Islands, off the west coast of Africa, are becoming increasingly popular with property investors and the company - founded by Tom Sheehy - is now the largest developer of real estate there.
The firm works with the government of Cape Verde on its larger national plans for the islands, of which Sal is the most developed.
Earlier this year, more than 1,200 Irish investors signed up to buy apartments on the islands, following a nationwide roadshow with television presenter Eddie Hobbs.
