Imperial Pacific International (CNMI) LLC, which is still in the middle of completing its centerpiece, the Imperial Palace Saipan in the heart of Garapan, broke ground last Saturday on an integrated resort it is planning to build with American Sinopan LLC in Tanapag.
To be called Imperial Casha, a scale model of the planned resort was presented to the public also last Saturday at the lobby of the Imperial Palace, to highlight possible investment opportunities. Prominent Chinese economist Lang Xianping later did a presentation to several Chinese investors about Imperial Casha.
Among those present at the Tanapag groundbreaking ceremony were Lt. Gov. Arnold I. Palacios, who was acting in Gov. Ralph DLG Torres’ stead, IPI chair and CEO Mark A. Brown, Imperial Casha Group CEO Liu Tao, and other members of the Imperial Casha and IPI groups.
In his remarks at the ceremony, Palacios is optimistic about the project. “The past few years saw economic developments in the CNMI…even as our community recovers from the effects of natural disasters,” he said.
Brown told Saipan Tribune that the planned Tanapag resort will have between 1,500 and 1,700 rooms and creates possible investments for Saipan. With this project, he believes more investors will be coming to Saipan and will just increase over time.
“We’re all striving for the same goal—success for all the businesses on the island,” he said.
He said their company’s investment in Sinopan is because IPI has been waiting too long for the Marpi land, as they have been finding it difficult to secure the land. The company resorted to just invest in a privately-owned land, which is the same land belonging to American Sinopan, as the wait was taking years.
IPI acquired a 50% stake in American Sinopan just last July 11. American Sinopan owns two pieces of land on Saipan, with a total land area of 129,687 square meters. The first piece is located on Capital Hill, where a set of 12 villas and a three-story clubhouse are to be built; and the second being the land acquired by American Sinopan in Tanapag.