$133 Million Hotel Project Requests Tax Break Approval From GEDA

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Investors of a 13-18 story, 4 tower, 500 hotel room project are awaiting approval from GEDA.   

Guam– According to GEDA Business Development Manager, Edward Camacho, the developer is requesting tax breaks for the $133 million project, named Citta Di Mare (City of the Sea), which is anticipated to be built in Tumon behind Acanta Mall up to Marine Corps Drive.  The Construction would start mid-year of 2016 and will take two to three years to complete.  Once completed, the project is expected to create over 400 jobs.  GEDA has scheduled a tentative public hearing, regarding the request, for September 9th in the GEDA conference room at the ITC building in Tumuning.  

More details will follow.