Of the five investors that responded to the Department of Public Lands’ first-of-its-kind request for proposal to lease public lands in San Antonio, two made it to the short list: Micronesia Resort Inc., which is associated with South Korean investment giant E-Land, and the Hong Kong-based Honest Profit International Ltd.
These two investors will have a chance to lease 40,827 square meters of public land in San Antonio to develop a new hotel with at least 200 rooms.
As of yesterday, however, the Evaluation and Selection Committee has yet to release a short list of those that can lease two other public lots in Marpi, also for hotel development.
Thecommittee was created to independently review and evaluate the submitted proposals for RFP13-DPL-127.
DPL Secretary Pete A. Tenorio, in separate letters dated Oct. 30, notified Honest Profit International Ltd. director Sam Chan and Micronesia Resort Inc. chief operating officer Tae Ho Kim that their respective companies qualify as one of the short-listed companies for Lot Number 00 I 40 in San Antonio.
MRI, under E-Land, also owns Pacific Islands Club and Coral Ocean Point.
Tenorio, one of the five members of the evaluation and selection panel, said the next process is to invite MRI and Honest Profit for a Nov. 22 presentation and interview related to their proposal.
Honest Profit’s presentation and interview is set for 1pm on Nov. 22. For MRI, it’s at 3pm on the same day. Both will be at DPL’s office in Dandan.
The interview and presentation, where the investors may present their proposal with the use of visual materials and others, will last about one-and-a-half hours.
“The Department of Public Lands congratulates you on your excellent proposal and looks forward to your interview and presentation. Thank you for showing your interest in helping develop our economy,” Tenorio told Chan and Kim.
The review committee includes representatives from DPL, Zoning Office, departments of Public Works and Commerce, and the Marianas Visitors Authority.
Tenorio also sent out letters to the three other responding investors that did not make it to the short list.
They are KSA Corp., INNOASSET, and Future Ent. Inc & Reading Investment & Securities and Korea Asset Investment Corp.
Gov. Eloy S. Inos said last week that the lease of public lands in San Antonio and Marpi to develop new hotels comes at an opportune time because existing hotels are running low on available hotel rooms to accommodate the number of tourists that have been visiting the islands.
In Marpi, the two available lots for lease have about 49,500 square meters and 49,505 square meters.
There were a total of seven investor groups that responded to the RFP for the Marpi and San Antonio lots, and many of them submitted proposals for each of the three lots in two locations.
Besides the five that offered to lease the San Antonio lot, the others are Delta America Inc. & Joong Ang Corp., and Tan Holdings Corp.