Dubai-based Range Developments said on Thursday it is set to break ground next month on its flagship Park Hyatt St Kitts project on the Caribbean island.
When completed, the Park Hyatt St Kitts, which was first announced in July 2012, will be a major highlight of Christophe Harbour, a 2,500 acre resort community on the island's southeast peninsula.
The development will feature 165 rooms and up to 43 branded residential villas and apartments across three phases.
The first phase will be comprised of 125 rooms, Range said in a statement.
The luxury resort will be surrounded by world-class recreational facilities, including a Tom Fazio designed golf course and yacht club, the statement added.
The Dubai developer said it has presented the formal design plans to a senior delegation from the Government of St Kitts & Nevis, led by Dr Denzil L Douglas, Prime Minister.
It added that it could offer investors "unique investment opportunities" as well as eligibility for St Kitts citizenship.
Mohammed Asaria, vice chairman of Range Developments said: "We are very pleased to have finalised the latest phase of this exciting development and extend our gratitude to the Government of St Kitts & Nevis and our partners for their invaluable support.
"By developing this project we remain committed to providing investors with access to exceptional real estate investment opportunities."
Richard Oliver Skerritt, Minister of Tourism, International Transport and Trade, Industry, Commerce and Consumers Affairs of St Kitts & Nevis, added: "We are pleased with the progress being made on this significant development.
"One of the Government's key priorities is to drive socio-economic development on our islands through attracting foreign investment and further enhancing our vitally important local tourism industry."