A deal signed between brand owner Kerzner International and Dolphin Capital will see the two companies develop One&Only Kea Island on a 65-hectare beachfront site on the west side of the island in the Cyclades.

No opening year has been confirmed but the hotel will have 75 villas. It will join the One&Only Portonovi in Montenegro, opening next year. Kerzner split its One&Only properties into strands earlier this year with assets now falling under Nature Resorts, Urban Resorts, Beach Resorts and Private Homes, with One&Only Kea Island falling under the latter two.

“Kea is such an incredible island and our goal is to introduce the finest resort in the Mediterranean,” said Philippe Zuber, president and chief operating officer, One&Only Resorts.

Dolphin Capital Partners was also responsible for the development of Amanzoe in Greece.

Founder and managing partner Miltos Kambourides said: “Our goal is to create another world-class asset, which together with Amanzoe, will rank as two of the top resorts in the Mediterranean and elevate further the image of the Greek hospitality market.”