Sheik Tariq bin Faisal Al Qassemi, a member of the ruling family of the Emirate of Sharjah in the United Arab Emirates, has agreed to invest in a new hotel in Antigua.
The $120 million hotel in Morris Bay will be on Old Road, near the Curtain Bluff resort on the southwestern coast.
The sheik signed a memorandum of agreement with the Antigua government on behalf of Al Caribi Development, the company that will build the luxury resort on 36 acres of beachfront land. Five acres will be a national park.
Construction is slated to begin within six months, following the granting of licenses and completion of architectural renderings, according to Antigua Prime Minister Gaston Browne.