The company chairman said he wanted to employ local workers

Global Construction has already started to convert derelict farm buildings into seven luxury homes at Tregele.

Chairman Christopher Macklin said the company did not want to overdevelop the area and would use local workers.

Anglesey Council leader Gareth Winston Roberts said the company needed to work with the council to balance the tourist industry and housing for local people.

Mr Roberts added the council would like to see training given to local people so they could find work and stay in the area.

He said that the island was one of the poorest areas in Wales and affordable housing was just one aspect of future needs.

Mr Macklin said the company wanted to develop a mix of expensive and low cost housing on the island.

The Tregele houses, close to the Wylfa nuclear power station, would be marketed for around �350,000 each.

But the company then hopes to move on to a site near Holyhead to build up to 32 affordable houses.

Global Construction said it wanted to invest �25m in five years on building 150 low cost homes.

"Its not just about profitability, its about the island's infrastructure," added Mr Macklin.

These buildings will be converted into seven homes

"We get locals in to do the work and use local contractors, that's the philosophy of the company."

Local estate agent Melfyn Williams said the average house on the island now sold for around �200,000 compared to �54,000 just four years ago.

Younger people were having to look increasingly at the rental market because they could not afford to buy houses locally, he added.

Mr Williams said that just building affordable housing would not be the answer.