July 11, 2007: Island Global Yachting (IGY) and Altamer Resort announced a joint venture for a 5-Star Mega Yacht Marina and Real Estate at Shoal Bay West, Anguilla on Monday, July 9.  Chief Minister Osbourne Fleming , Minister of Finance Victor Banks, Minister of Infrastructure Kenneth Harrigan, Altamer's Michael and Rebecca Eggleton and IGY's CEO Andrew L. Farkas were all present to participate in the ground breaking ceremony.

The development is to be constructed at the adjoining Gull Pond and will be a 101 slip mega yacht marina on 22 acres, scheduled to be completed by the end of 2009. Slip sizes will vary from 30 feet to over 300 feet, with the finest services available for both guests and crew. There will also be 740,000 square feet of upland space, which is currently slated for a 164 unit luxury resort.