Housing Minister Reginald Austrie says he hopes to see a complete transformation of the Portsmouth area with the Cabrits Kempinski Hotel.
This 160-room hotel being constructed at Douglas Bay, is expected to be completed at the end of 2018.
The Cabrits Kempinski is among a number of anticipated hotel developments across the island, that are said to be funded under the Citizenship By Investment Program.
Speaking during a Cabinet site visit on Wednesday, Austrie said he expects to see within the next five years, a complete transformation of that area, after the completion of that hotel development.
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