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Friday, April 18, 2014

Senators question E Land’s ability, commitment

Sens. Pete Reyes (Ind-Saipan) and Paul Manglona (Ind-Rota) have asked Department of Public Lands to consider their concerns about South Korea giant E Land’s commitment—or its lack —both in completing the Coral Ocean Point renovation and building a new hotel if E Land be granted the right to lease a piece of public land in San Antonio.

DPL Secretary Pete A. Tenorio acknowledged receipt of the senators’ letter. He said yesterday that DPL has not decided yet on the San Antonio property.

An ad-hoc committee is still evaluating the proposals of two short-listed companies that responded to an RFP involving the lease of 40,827 square meters in San Antonio for the development of a hotel with at least 200 rooms.

Besides E Land’s Micronesia Resort Inc., the other shortlisted entity is the Hong Kong-based Honest Profit International Ltd.

Reyes and Manglona inquired on the status of E Land’s compliance with its lease agreement for Coral Ocean Point. E Land is part-owner and new investor in Coral Ocean Point, based on their understanding.

“We took note that E Land is also involved in the acquisition of Palms Resort Hotel. Though we understand that Palms Resort is situated on private land, they have not done any visible improvement on the property that can contribute to the increasing need of the CNMI to provide necessary rooms for our increasing number of tourists choosing CNMI as destination. The concerns you raised on the lack of activity in COP to meet compliance and our concerns above compel us to write this letter to you,” Reyes and Manglona told DPL’s Tenorio.

The senators added that they look forward to DPL’s early action in awarding the San Antonio project to a company “that can begin the proposed project immediately so the CNMI can begin to meet the need for our growing tourism industry.”

DPL recently selected Tan Holdings over E Land’s Micronesia Resort Inc. for a long-term lease of almost 10 hectares of public lands in Marpi, where Tan Holdings proposes to build an over $133 million, 455-room high-end hotel resort.

This is in connection with DPL’s RFP for a long-term lease of two lots in Marpi totaling 99,005 square meters. Tan Holdings and E Land’s MRI bested three other investors that also submitted proposals.

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