FBD Hotels & Resorts has announced a €55m development at its La Cala Resort in southern Spain.
The development at La Cala Resort is in partnership with Taylor Wimpey Spain, the Spanish subsidiary of UK based housebuilder Taylor Wimpey.
This is the third joint venture between the companies.
The new development will consist of 158 units comprising 41 townhouses and 107 apartments and its construction is due to start in autumn 2017.
It will bring to 323 the number of units developed in partnership by the two parties at the La Cala Resort.
FBD Hotels & Resorts currently owns and manages two hotels in Ireland - Castleknock Hotel Dublin and Faithlegg House Hotel, Waterford. It recently announced the sale of Tower Hotel Waterford to Neville Hotels.
It also has two resorts in southern Spain - La Cala Resort and Sunset Beach Club.
"Today's announcement is further evidence of our belief in the resort’s potential for even further growth and the renewed confidence in the property market in southern Spain," commented David Kelly, CEO of FBD Hotels & HR.
"In Taylor Wimpey, we have found a strategic partner with the same vision and ambition for the resort. We are now looking forward to working together and building on the success of our two previous joint ventures," Mr Kelly added.