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Work on $13M-$15M luxury villas begins in Chalan Galaide
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Posted on Mar 27 2012
By Haidee V. Eugenio
Reporter
Reporter
In two years’ time, Saipan will have $13 million to $15 million luxury vacation homes in Chalan Galaide with spectacular views of the western lagoon.
Land clearing has started, paving the way for actual construction in a sprawling 4.3 hectares of private property.
Galaide Estate Villas will have 25 luxury homes when completed, and targets affluent Chinese visitors looking for vacation homes on Saipan, said Al Cabael, Tropics Realty’s project representative for the Galaide Estate Villas.
A visit to the site yesterday afternoon showed employees running excavators.
Cabael said they are now working on the first phase of the project, inclusive of 11 villas. He said the whole project will be completed in two years, with a total of 25 villas.
Galaide Development LLC, a group of Chinese investors out of Beijing, is the owner/developer.
Galaide Estate Villas is just among the few new foreign investments in the CNMI amid a slow economy.
Cabael said the investors recognize the island’s “beauty,” its “ideal weather,” its people, and golf courses, among other things.
Rep. Stanley Torres (Ind-Saipan) said yesterday the CNMI needs new investors such as the Galaide Estate.
House Speaker Eli Cabrera (R-Saipan), author of a local bill that amended the Saipan Zoning Law of 2008 mainly its setback provision, had said this multi-million project will create construction and related jobs, generate revenue for the government through taxes, and spur other economic activities.
Cabrera said each housing unit will have its own swimming pool and pavilion.
Cabrera’s bill, which became Saipan Local Law 17-12, changed the existing “setback” requirement of 30 feet from the property line at all sides under the Saipan Zoning Law, to only “10 feet,” making it consistent with the Coastal Resources Management regulations.
