Someone is paying $45M to build a luxury hotel in Guam

A new investment group led by Pacific Asian Developments, a hotel and resort development corporation registered in the Bahamas, is planning to build a 15-story, five-star hotel across from the Agat Marina in Guam for an estimated $45 million.

The group recently purchased 22,500 square meters of land, 5,000 square meters of which has been allocated for the Sirena Grand Hotel.

The Sirena will be built under a turnkey agreement with China State Engineering and Construction Corp., China’s largest construction company.

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PADL has an ongoing luxury resort development on Carabao Island, next to the resort island of Boracay in the Philippines, in a partnership with a major China-based hotel corporation. PADL’s Philippine resort project is in partnership with the Plateno Group, which also is a potential partner in the Guam hotel plan, David F. Jacka, the British chief executive officer of PADL, told Pacific Daily News.

 

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