Roger Waters and Shakira have jointly purchased a $16-million island in the Bahamas named Bonds Cay, and they’re planning to develop it into a luxury Caribbean vacation hotspot not only for the wealthy, but also for both seasoned and promising artists, who are looking for an opportunity to showcase their works amidst a sea of deep-pocketed vacationers. As what media outlets have dubbed it, the ‘She Wolf’ singer and the Pink Floyd front man are intending to “reinvent the concept of tourism”.

“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,” says Arturo Rubinstein, who’s also an investor in the newly acquired property. Bonds Cay is envisioned by its investors and owners to give rise to high-end hotels, private beaches and seaside homes, and as mentioned, a haven for artists who could use the Caribbean’s stunning and breathtaking scenery for inspiration.

The idea of acquiring Bonds Cay was presented to Shakira and Waters in 2006. Back then, Shakira’s former boyfriend, Argentine Antonio de la Rua, and New York based financial firm Guggenheim Capital were also involved. No word if the two entities are still attached with the recent purchase.

So what makes Bonds Cay a must-see tourist spot and a promising lucrative investment? “It’s a beautiful island. It’s got some height to it, which means as you build up, you get better views,” says John Christie of H.G Christie, a Caribbean-based real estate brokerage firm. He also adds, “There is the ocean to the east of it so you’ve got reefs and views of turquoise water. On the other side of the island is limey, light turquoise water because it is shallow. It’s a great fishing area.”