A group of high profile investors, including Shakira and Roger Waters (Pink Floyd), is planing to sign a contract to buy (and eventually develop) the 700 acres Bonds Cay island in the Bahamas, according to Forbes: Island Fixation.

The island will be an artist's retreat. There will be also a hotel boutique, luxury condominiums and houses with private beaches, according to the magazine. The island is evaluated in 16 million dollars and is located in the North central Bahamas, in the "Berry Islands".

Forbes said Miguel Bosé and Alejandro Sanz will also participate in the project. Both have recorded Duets with the Colombian singer. According to the island's developers, what's different about this project is the fact that these artists are going to own houses in the island and to live there part of the year.

The construction is planned to begin in mid-2007, with a first phase of offerings to hit the market three years later.