Chinese firm Sinohydro is to conclude negotiations for the financing and equity investment of the US$2.5bn (£1.5bn, €1.8bn) Harmony Cove Development project in Telawny, Jamaica later this month.

The 2,300-acre (9.3sq km, 3.6sq m) property on Jamaica’s north coast, is to be developed into a resort to include three PGA golf courses, a luxury health spa, marina facilities, commercial developments, luxury hotels, private residences, a hotel, casino, convention and entertainment centres, restaurants, retail assets and a dedicated private airport.

Real estate developer Tavistock has acquired the rights to develop the property, while Leisure and Hospitality Design International (LHDI), MODE architects and and MSI have worked in collaboration on the design and architecture.

The first phase of the project, to cost US$800m (£478.1m, €583.7m), will take three years to complete and will include 2,000 hotel rooms.

The much delayed project, which was expected to start construction in 2009, has strong backing from Jamaica’s government and is expected to be one of the country’s top destinations.