Previous Story
E Land awaits DPL OK on $130M, 780-room Marpi hotel
If OK’d, this will be E Land’s first ‘new’ hotel project in NMI
South Korean investment giant E Land’s Micronesia Resort Inc. is now just awaiting the Department of Public Lands’ approval of their planned $130-million, 780-room hotel in Marpi which, if approved, will be their first development to be built “from the ground up” unlike their purchase of three other existing Saipan hotels.
DPL Secretary Pete A. Tenorio told Saipan Tribune yesterday there is no decision yet on E Land’s proposed Marpi hotel project.
Meanwhile, DPL said Hong Kong-based Honest Profit International Ltd. will hold a groundbreaking in September for a new $130-million, 300-room hotel in San Antonio.
Both planned new hotels in Marpi and San Antonio each have a $130-million investment budget but the number of rooms is different, and this could be a function of the type and quality of the hotel to be built.
Rep. Anthony Benavente (Ind-Saipan), chairman of the House Natural Resources Committee, separately said yesterday he hopes that DPL will carefully consider each and every proposal on the use of limited public lands.
Saipan lacks hotel rooms to accommodate a growing number of tourists. This is why DPL and the government are looking at more hotel constructions and renovations.
Taeho Kim, chief operating officer of E Land’s Micronesian Resort Inc., reiterated E Land’s interest in pursuing the Marpi hotel project.
“The top management is very excited about it. We are still waiting for DPL and the government’s decision. …The proposed investment is $130 million. The number of keys or rooms is 780,” Kim said.
E Land is proposing to build the hotel on almost 10 hectares of public lands in Marpi near the former The Palms Resort, which E Land will renovate for 12 months or up to end-October 2015.
The Tan Holdings and Sunshine 100 joint venture earlier withdrew interest from leasing the Marpi public land after it decided to develop a private land instead, also in Marpi. Because E Land’s MRI was ranked the second best bidder, DPL decided to offer the public lands to them.
“We are now just waiting for an opportunity to sit down and negotiate [with DPL],” MRI’s Kim added.
