South African firm to build billion-dollar Seychelles golf resort

Business News

Jun 24, 2007, 12:15 GMT

Johannesburg - A South African property company has won the tender to build a 9.2-billion-rand (1.3-billion-dollar) golf complex in the Indian Ocean paradise islands of Seychelles. Pinnacle Point Holdings, based in Cape Town, beat off strong international competition to build the resort on the secluded Ile Aurore Nouvelle island, near the main island of Mahe, the Sunday Independent reported. The prestigious project requires the reclamation of around 60 hectares of land from the sea to expand the area of the island which will house 144 luxury villas, 90 condominiums, a casino, a five-star hotel and a waterfront marina. The only means of transport on the island will be golf carts. The resort will be linked to Mahe via a raised road. Construction is to begin in 2008 and take four years. © 2007 dpa - Deutsche Presse-Agentur

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