Developer confident about Brazil resort funding

A developer behind a major new resort development in north-eastern Brazil has said it is confident it will secure the necessary finance to move ahead with the project.

Costing USD10 million (GBP5.6 million) and dubbed "The new Cancun", the 30 sq km site is the brainchild of Spanish company Afirma, Reuters reports.

It is planned to spread along 12 km of beach and spread inland by an estuary near the city of Fortaleza.

The complex will also contain 13 hotels and three golf courses.

A spokesman for the company said: "We are talking about a very attractive project in a very attractive country from a tourism point of view and [one that is] emerging economically."

Such an investment may encourage those thinking of investing in property in Brazil that it is a good place in which to be involved.

The state that the site is in - Ceara - has one of the longest coastlines in Brazil, Fortaleza.com states.