Shanghai-backed firm eyes $4B integrated resort on Tinian

Shanghai-backed Saipan Jinghua Investment is considering a $4 billion integrated resort on Tinian, taking the number of groups interested in a project on the island to four.
“There is another company interested to build a hotel-casino,” Tinian Mayor Ramon M. Dela Cruz said.
Saipan Jinghua Investment was registered with the CNMI Department of Commerce on Aug. 27.
David C. Sablan, a registered agent and former CNMI government employee credit union general manager said the group is still in the planning stage, but would like to have an integrated resort on both Saipan and Tinian, with the latter having the bigger scale development.
Sablan said the investor group is looking at building a 500-room hotel on Saipan on a 20-hectare piece of public land near Bird Island in Marpi and a much bigger 500-room integrated resort with a casino on Tinian at Pina Plateau on the eastern side of the island.
With this group coming in the picture, there are now four major casino proponents on Tinian, with Tinian Dynasty still the lone operating casino in the Northern Marianas.
Alter City Group recently signed a lease agreement with the Department of Public Lands for 155 hectares of land on Puntan Diablo on Tinian. However, any lease in the Northern Mariana islands exceeding 5 hectares requires the approval of the CNMI legislature.
Bridge Investment Group is planning to construct a 300-room casino-hotel right at the Tinian Harbor. It is also looking at investing in a ferry service that will benefit not only the hotel’s customers but the civilian population as well.
Aside from Dynasty, Mega Stars Overseas Ltd—its major investor—is also eyeing a casino-resort on Puntan Kastiyu which will target high-end Chinese tourists.
As to the Pina Plateau project, Sablan said the investors will be arriving in January 2015 to work on securing the lease and commencing the permitting process.