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Ritz-Carlton Hotel Company and the Five Star Development Resort Communities have agreed to build a new $2bn Ritz-Carlton resort and residences in Paradise Valley near Scottsdale, Arizona, US.

Construction of the 200-room resort is scheduled to begin in July 2016, and it is expected to open in late 2018.

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Ritz-Carlton president and chief operating officer Herve Humler said: "Paradise Valley in Arizona will be a great new destination for our brand in the Americas.

"We are pleased to be working with Five Star Development to create this unique desert resort for sophisticated travellers from around the world."

"Paradise Valley in Arizona will be a great new destination for our brand in the Americas."

The Ritz-Carlton Paradise Valley will stretch from north of the Phoenix mountains to the McDowell Mountains in Arizona.

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Located near the northwestern corner of Scottsdale Road and Lincoln Drive, the resort will cover an area of 20 acres, and offer views of Camelback Mountain.

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The resort will feature 20,000ft² of function space, separate adult and family swimming pools, a citrus garden and orchard, and a 400ft main pool.

The multi-phased residential community will include 45 single-family homes and 94 villa residences.

The Ritz-Carlton Residences, Paradise Valley will be developed in multiple phases next to the hotel.

Residence owners will be able to secure access to hotel services and privileges, including a dedicated concierge, priority access to accommodations and amenities, in-residence dining and housekeeping.

Image: The Ritz-Carlton Paradise Valley hotel will open in late 2018. Photo: courtesy of The Ritz-Carlton.