Plans have been confirmed to build the 2bn baht (£39.8m, US$63.2m, €47.2m) Bangkok Marina Resort & Spa in Thailand.

The development – a joint venture between Bina Puri Holdings Bhd, Thai-based UFUN Group and Chinese investor Tang Cong Shu – will be funded with internal funds and bank loans.

Located in the capital city of Bangkok, and close to the nearby Suvarnabhumi Airport, Bangkok Marina will comprise 817 single-storey, double-storey, semi-detached, double-storey duplex and resort suites along with residential buildings and leisure and entertainment outlets including a spa.

Construction is expected to start in Q1 of 2014 and will take three years to complete, with operations slated to begin in Q1 of 2017.

The first phase of development will see mainly residential property built, with the option of acquiring a further 100 to 500 acres of land for further development, which includes a water park, marina centre and foreign villages.