An affiliate of the China Horse Club has signed an agreement with the St. Lucia's government to build a $2.6 billion resort on the Caribbean island to attract Chinese tourists and investors.

The "Pearl of the Caribbean," which is expected to start construction next year, will occupy a massive 700-acre land area on the south end of the Caribbean. The project, which is under the banner of DSH Caribbean Star Ltd., an affiliate of Desert Star Holdings Ltd. that also includes the China Horse Club, will feature its very own casino, a horse racetrack, a shopping mall complex, housing, a free trade zone, and entertainment and leisure areas.

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According to UPI, the deal is between some government units under the St. Lucia Citizenship by Investment Program and DSH Caribbean Star Limited. The signing ceremony capped three years of negotiations and will provide an upgrade to the island's international airport, located nearly a mile from the "Pearl of the Caribbean" site.

The "Pearl of the Caribbean" will also have facilities for 1,000 horses and handle racing events to establish St. Lucia "as a racing and entertainment center in the Caribbean."

China Horse Club, which places emphasis on the development of racing, has grown rapidly in international racing since 2012. It is set to hold a race meeting next month in Ordos, Inner Mongolia, in conjunction with the region's China Equine Cultural Festival. DSH, on the other hand, is expecting to be a key player in the massive expansion of China's racing industry as its potential economic benefits will also be huge, especially if the government relaxes its ban on wagering.

TagsChina Horse Club, Saint Lucia, Pearl of the Caribbean, DSH, DSH Caribbean Star