Beach Bay Land Limited (BBLL) has signed a development agreement with the Cayman Islands government for the construction of a $200m, mixed-use luxury resort in the district of Bodden Town, Grand Cayman.

The resort, to be called St James Point, will offer a unique experience with superior service levels in the Caribbean region, claimed BBLL.

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It will feature 200 rooms, with 75 residential units, and have a host of renowned brands offering multiple signature restaurants, retail and spa experiences and water sports activities.

The resort will come up on a 16-acre property with a view of a 1,000ft private natural beach.

"Once opened, this development will add to the 5,200 rooms currently available across our islands for the enjoyment of guests who vacation with us."

The architecture will complement the tropical environment whilst offering luxury accomodation.

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BBLL principal and managing director John David Layton said: "Our vision, implemented on a site with a spectacular beach, secluded location, superior infrastructure, airlift and natural beauty, provides everything necessary from a location to compete successfully."

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The luxury resort will create more than 1,000 jobs, including 750 during construction and support local suppliers.

Once the project becomes operational, more than 325 permanent hospitality jobs will be created.

Minister of Tourism and Deputy Premier Moses Kirkconnell said the eastern districts and Bodden Town would derive great benefits from having a luxury resort in its midst, by providing sustainable employment and a broadening of the tourism offering.

"Once opened, this development will add to the 5,200 rooms currently available across our islands for the enjoyment of guests who vacation with us."

The project’s designs will be unveiled in the next few months and the hotel is slated to open in late-2018.