Cuba: British businessmen to build hotel, course

The Cuban government has granted British restaurateurs Ranald and Andrew MacDonald permission to develop a new golf course and resort hotel to go along with 850 beachfront apartments at the popular resort town of Varadero.

Apartment prices will range from $133,000 for a two-bedroom flat to $800,000 for a penthouse suite, with each buyer receiving a 75-year lease.

Construction is expected to get underway in January with the first move-ins anticipated by early 2011.

Located in the province of Matanzas, just 50 miles from Havana, Varadero is one of the largest resort areas in the Caribbean, receiving about 500,000 visitors each year.

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