(CORRECTION: Updated facts related to the investment done in Paradise Heaven.) 

Caribbean vacation company Resort Development Paradise Haven received a US$50 million fund from Singapore's Asia Pacific Investment House. The resort is located in the island nation of St. Kitts & Nevis.

This fund was raised on the initial round of investment, bringing the US$250 million target closer to completion. The second round of investment is looking extremely positive, said Resort Development Paradise Haven in a press statement released today.

The company said that with the help of the St. Kitts & Nevis' tourism development programme, more than 1000 new jobs are projected to be created, providing a much needed sustainable workforce in the small island nation.

Construction of the resort will begin later this year, and is expected to commence in 2013/2014.

Paradise Haven is situated in the island of Nevis, spanning over 500 acres of environmentally optimized gold and beach facilities. The resort offers extremely high-end services such as luxury villas, condominiums, retirement homes and family residences.