Development of the area started in 1961, and was financed by a consortium of companies led by Prince Karim Aga Khan. Spiaggia del Principe, one of the beaches along the Costa Smeralda, was named after this Ishmaelite prince.[4] Architects involved in the project included Michele Busiri Vici, Jacques Couëlle, Savin Couëlle, and Vietti.