A US$1.5 billion project
in the Turks and Caicos Islands (TCI) known as Dellis Cay which was once touted
as the largest development in the hemisphere, has gone bust, leaving scores of residents
out of work.
Bosses behind the up-market hotel and villa project said their business had been taken to the brink of collapse by widespread allegations of corrupt dealings with the former Government.
The exclusive five-star scheme, designed by some of the globe's leading architects, was to comprise a series of luxury villas and residential units serviced by a Mandarin Oriental hotel.
A signature restaurant, golf course, tennis courts, spa, boutique shops, cinema, business centre, pools, cigar room and library were included in the plans.
Aimed at well-heeled clientele, buyers who snapped up a piece of paradise include Hollywood couple Michael Douglas and Catherine Zeta-Jones.
Construction began in June 2008 and was due to be completed in October next year.
Bosses behind the up-market hotel and villa project said their business had been taken to the brink of collapse by widespread allegations of corrupt dealings with the former Government.
The exclusive five-star scheme, designed by some of the globe's leading architects, was to comprise a series of luxury villas and residential units serviced by a Mandarin Oriental hotel.
A signature restaurant, golf course, tennis courts, spa, boutique shops, cinema, business centre, pools, cigar room and library were included in the plans.
Aimed at well-heeled clientele, buyers who snapped up a piece of paradise include Hollywood couple Michael Douglas and Catherine Zeta-Jones.
Construction began in June 2008 and was due to be completed in October next year.
All feeds
