Chinese Company Plans Antigua Megaresort

A Beijing-based investment group has signed an accord with the government of Antigua and Barbuda on development of a US$2 billion resort with a casino on the Caribbean island nation. Plans call for five hotels, private residences, a marina and golf course and other attractions.

Beijing-based Yida International Investment Antigua has signed a memorandum of agreement for a US billion integrated resort with a casino in the Caribbean island nation of Antigua and Barbuda.

Plans call for the construction on Guiana Island and surrounding lands of five five-star hotels, 1,300 residential units, a casino, a conference center, a golf course, a marina, retail and other commercial facilities, the government’s web site said.

The investment group also is expected to spend more than $200 million annually in the Antigua and Barbuda economy over the next 10 years and provide the country with a presence in China aimed at attracting additional investments, the site said.

Yida has interests in mining, real estate, health care and other industries.