$68.8M Golftel breaks ground

Laolao Bay Golf Resort broke ground on its $68.8-million Golftel project yesterday with Kumho Asiana executives joining local government officials led by Gov. Benigno R. Fitial in what is easily Saipan’s biggest construction undertaking in more than a decade.

Kumho Resort president Bong Ku Kim said the project to build a world-class golf resort is further proof that their mother company is dead serious in its commitment to invest in the Commonwealth.

“Less than one and a half years from now the CNMI community will have one of the best golf resorts in the world and [it would be] added to your list of [tourist] attractions,” he said. “I’m certain that our effort to work with you will continue, especially together with Asiana Airlines, our sister company in the Kumho Asiana group umbrella.”

Fitial, for his part, said the groundbreaking represents one of the most important economic developments for the CNMI.

“Today is truly historic [as it] marks a major milestone in the development of our tourism industry, and I’m very proud to be a part of this development,” he said.

The islands’ top executive said that Kumho Asiana’s $68.8-million Golftel project comes in the heels of the conglomerate increasing flight service to the islands.

“This is further evidence of Kumho Asiana’s solid commitment to the CNMI. This is not a plan or a dream. This is a concrete, multi-million dollar golf resort project now getting underway. And this development comes nearly a year after Asiana added four additional daytime flights and launched new daily flight service from Seoul to Saipan.”

Fitial said that he is very pleased with Kumho Asiana’s decision to develop Laolao Bay Golf Resort as well as increase flights for the betterment of the CNMI economy. In turn, the governor wishes continued success for the company and said his administration will stand by “the investment and do everything in its power to ensure its continued success.”

Marianas Visitors Authority chair Jerry Tan, meanwhile, looks at the investment as a way of luring more tourists into the Commonwealth.

“The project itself will not only generate more golfers. First, the golfers will bring in their families whenever they come here for vacation; and second, golfers are known as high-end spenders. And that’s part of MVA’s plan to upgrade our destination and attract more high-end tourists. This project will help us achieve that,” he said.

Laolao Bay Golf Resort president Sun Don Jhung presented a brief project summary and said the Golftel is scheduled to open in November 2009.

The $68.8-million project will involve two phases. The first phase will cost $54.2 million and involve the construction of two Golftel towers with 73 lodging units, five independent-structure golf villas, completion of the full facilities and services (fitness center, swimming pool and spa, banquet rooms, and snack bar), and extended clubhouse and the renovation of the original clubhouse.

Phase two of the project, which has a budget of $13.1 million, is composed of the construction of the third Golftel tower with 37 lodging units and two independent-structure golf villas.

Laolao Bay Golf Resort also plans renovate its Greg Norman-designed course and that is expected to cost another $1.5 million. The first phase is expected to be completed in 2009, while the second phase is scheduled to be finished in 2012.

The groundbreaking ceremony yesterday was held with much fanfare as, instead of shovels, Laolao Bay Golf Resort opted to have Kim, Fitial, Senate President Pete Reyes, and Korea Association vice president Ty Yoon signal the start of construction by pushing the levers of a detonation control box that set off fireworks a few meters away.

The $68.8-million Golftel project is the biggest construction on the island since Hafadai Beach Hotel opened its 20-floor Taga Tower back in 1997.