The couple ' who have two-year-old twins Max and Emme - are reportedly planning to buy a luxury penthouse in a $300 million residential, shopping and entertainment centre in San Juan, which they will make their base next year as they work on a number of business ventures.

Their spokesperson refused to confirm the property purchase, but said: "They are looking into creating new projects in San Juan and Latin America in development, entertainment and film.'

The couple's decision to buy at the location has sparked outrage as local residents are said to be concerned about overbuilding on the coast line, its location so close to the 17th century San Geronimo fort and the sale of public land to private developers.

One insider familiar with the Paseo Caribe site told the New York Post newspaper: "It is still early days. There is no certainty they'll buy because of the controversy."

Last year it was claimed Jennifer and Marc - who were both born in New York to families from Puerto Rico ' wanted to build a state-of-the-art soundstage in Fajardo on the US island to turn it into the "Hollywood of the Caribbean".

According to Fajardo's mayor, Anibal Melendez, the couple had a "lot of enthusiasm" for the project to attract more major movies and television shows when he met with them recently in Miami, Florida.