E-Land’s MRI or Honest Profit? It’s now up to governor

It is now up to Gov. Eloy S. Inos whether the government would negotiate with South Korea-based E-Land’s Micronesia Resort Inc. or Hong Kong-based Honest Profit International Ltd. on the lease of 40,827 square meters of public lands in San Antonio to build a new hotel with at least 200 rooms.

Department of Public Lands Secretary Pete A. Tenorio said a review and evaluation committee submitted to the governor their findings on the proposals of both MRI and Honest Profit.

“We gave the governor our findings and recommendations. It’s now up to him to select and make the announcement,” Tenorio told Saipan Tribune.

Press secretary Angel Demapan, when sought for comment, said the governor is still going over the proposals and recommendations.

“The recommendations are still under review with the governor,” Demapan said.

MRI and Honest Profit were shortlisted among five investors that responded to a request for proposal to lease the San Antonio public lands. The government review committee interviewed and listened to the presentation of MRI and Honest Profit on Nov. 22 at different times.

The other three that didn’t make it to the short list for the San Antonio lot were KSA Corp., INNOASSET, and Future Ent. Inc & Reading Investment & Securities and Korea Asset Investment Corp.

Once the government selects between MRI and Honest Profit, the winning company would then negotiate a land lease with DPL. Later, DPL and the investor have to request the Legislature’s approval for the land lease.

Last Thursday, the review and evaluation committee also interviewed and listened to the presentation of the two shortlisted companies for a lease of adjacent public lands in Marpi, also for the development of up to two new hotels with at least 200 rooms each.

These were South Korea giant E Land’s Micronesia Resort Inc. and Tan Holdings, vying for the lease a total of 99,005 square meters of public lands in Marpi.

The three other investors not shortlisted were: 1) Delta America Inc. and Joong Ang Corp. 2) Honest Profit International Ltd. and 3) KSA Corp.

The review and evaluation committee was composed of members from DPL, Zoning Office, departments of Public Works and Commerce, and the Marianas Visitors Authority.

The CNMI currently has shortage of hotel rooms to accommodate the needs of the tourism industry, so DPL’s issuance of an RFP for land lease to build new hotels come at an appropriate time.