The selected company will be responsible for project management during both pre- and post-construction of the first phase of the development, to include infrastructure work, a marina and an 18-hole golf course. An award is expected in January. Construction of phase 1, which requires investment of about $90 million, is due to take about two years.

WI and MAF are working on a final shareholders' agreement, which will trigger the tendering of construction packages - expected to start in the second quarter of 2005. Dredging and reclamation work will be required as the development is constrained inland by the rights of Seeb International Airport to develop a second runway.

The partners are also reviewing and amending the original masterplan for the resort, and are discussing a final name with international branding consultants. The project received a significant boost in November with the passage of legislation allowing foreign freehold property ownership in designated tourism developments (MEED 12:11:04).