Construction work on the US$253m (190.5m euro, £155m) Pearns Point on the island of Antigua is set to begin in early 2013.

The Antigua and Barbuda Investment Authority and the cabinet of Antigua and Barbuda have approved the development.

Located on the northwest corner of Antigua, the 130-acre project will include a luxury boutique hotel, a spa and health club, condominiums, residential lots, and a casino.

Construction on the first phase of the project, which will cost US$17m (12.8m euro, £10.4m), is scheduled to begin early 2013 and will take 24-months.

The hotel, apartments, villas, and spa construction will be included in phase two and three, which are scheduled to start in January 2013 and last 18 months.

Pearns Point Residences will be opened in three phases of 21, 22, and 18 lots respectively.

Two hundred and fifty one units will be built at the resort and all residences are expected to be erected within eight years.

The project is expected to yield US$90.8m (68m euro, £55.7m) in ABST revenue over a 20-year period.

Antigua also announced two other upcoming projects. The Honeymoon Beach project, which is scheduled for the first half of 2013, a wellness resort by developer Rob Barrett.

The second is being undertaken by Engineer House and the operators of the Admiral's Inn and will include 20 new hotel rooms, a wellness centre, a spa, a fitness centre and a restaurant, at a cost of US$6.8m.