PADL is a public corporation registered in the Bahamas. It has partnered with the local company DLG & Co.
Guam – A company called Pacific Asian Development ltd.(PADL) has expressed interest in developing a 15 story hotel in the village of Agat and they have expressed interest in GEDA’s qualifying certificate program.
According to their website PADL is a public corporation registered in Nassau the Bahamas. They developed and own hotels and resorts in the Asia pacific region with regional offices in the Philippines, Guam and Hong Kong. The website says that PADL is currently developing a 144 room beach front resort hotel at Agat Guam due for completion in the 4th quarter of 2017.
The website also lists it’s Guam J.V. partners as DLG &Co. and shows the picture and a brief profile of Danny Leon Guerrero. It also lists an Oceans 11 holding LLC as a J.V. partner for the 144 room Sirena Grand Hotel and commercial complex. It lists phases 1 – 3 as “a planned unit developments multi-story condominium & retail complex development with beach frontage luxury villas; as approved by the Government of Guam USA zoning commission. Approved PUD development projects-excess of $300, million.”
The site says that PADL has acquired 22,500 square meters of ocean front land in Agat with zoning for a hotel condominium and commercial use. Only 5,000 square meters has been allocated for the hotel itself. It says the Sirena “will be built under a turnkey agreement with China State Engineering and Construction Corp.” and it states that (CSECC is China’s largest construction company, registered at the Shanghai stock exchange). The remaining 17,500 sqm are offered for sale or development for commercial use.
Their plans include 36 2-bedroom suites, 52 premium suites and 56 standard suites. It also calls for two signature restaurants, a main lobby and rooftop lounge and bar, a signature spa & wellness center and an infinity pool on the 3rd floor. It includes plans for a commercial and convention center.
Yesterday (Thurs.) GEDA officials confirmed that representatives of PADL have expressed interest in the qualifying certificate program which grants tax breaks.