According to the agreement with the Government of Belize, signed in June of 1996, The Dolphin Group will develop within ten years from the signing date, a Five Star Resort with 150 hotel rooms, 350 residential units, an equestrian center, a golf putting facility, a water and desalination plant, a state of the art sewerage treatment plant, employee housing and other operating and service facilities such as wharfs, jetties, marinas, etc. on approximately two hundred acres at Punta Azul.
Of special interest to northern Ambergris Caye landowners and the North Ambergris Caye Development Corporation (NACDC), is the Dolphin Groupís plan to begin construction of a marina in the vicinity of the Santa Cruz Lagoon and a sixty foot wide roadway from the lagoon side of the island to the seaside location of the resort. In addition to the west-east road, a road to the former Basil Jones site airstrip will be constructed, and a road from the airport to the resort. The placement of the marina on the leeward side of the island, will ensure that the pristine sea front is not disturbed by the off-loading of construction equipment and materials. The lagoon side location will also accommodate the development of NACDC lands and be of benefit to other northern land owners.
The conditions for development of a new airport at the Basil Jones site were set out in an agreement arrived at on October 18, 1996. Present at the meeting were Attorney at Law Wilfred Elrington, representatives of Dolphin International, the president of First Company Ltd., Mr. John Greif and the Chairman of NACDC, Mr. Fidel Ancona. Agreed to was "Dolphin International Ltd. will construct at its own cost a new airport at the Basil Jones site and all aspects of both the development of the airport and the adjoining road will be the responsibility of Dolphin International Ltd. subject to the approval of the Government of Belize." It was also agreed that the Government of Belize was prepared to provide the lands necessary for the airport as its contribution to having the project realized. The agreement further states that as soon as the construction of the airport has been completed, the Government will declare the road between the resort and the airport a public road as long as the said resort shall be in existence.
The Royal Belize Village, and the Dolphin Group have been active and in the news in the community of San Pedro over the past year. While they have been completing the required environmental reports, site and developmental plans they have undertaken many community projects. In addition to contributing to the building fund at the San Pedro R.C. School, they have contributed to the development of the new park at Boca del Rio and are participating in a long term substantial contribution to the San Pedro Dolphins semi-pro football club. Currently the developers are waiting for approval of a gaming licence from the Government of Belize. Construction of the world-class Five Star Resort is contingent on having approval to include an adult entertainment center with gaming. When the gaming licence is approved, the construction will begin. Although construction of the resort will be carried out over a number of years, an expenditure of $45 million dollars U.S. is anticipated in the first three years.