Shakira buys Caribbean Island

Shakira, 34, and Waters, 68, are reportedly hoping to "reinvent the concept of tourism" by building  a set of luxury holiday homes on the island which will also include private beaches and a number of hotels.

"It's not about having 200 speedboats and an 18-hole golf course. I would say it is an explosion of the senses. It's a concept more related to art and culture," femalefirst.co.uk quoted Arturo Rubinstein- a Miami-based investor involved in the project- as saying.