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July 2017

 

 

 

 

Heaven Palau

Prospect Time International Investment Ltd will start a 5-star hotel complex project in Palau. Initial discussion as well as mutual understanding had been reached in July 2017. The proposed 56,000 square meter 5-star hotel complex project that comprises of a 5-star international hotel, floating villas by the bay, a fisherman pier and shopping mall, and a yacht club complex. The total investment is estimated to be around US$150 million.

Locating on the most populated island in Palau, the Koror Island, and adjacent to the Koror-Babeldaob Bridge (which is also known as the Japan-Palau Friendship Bridge as it was rebuilt by the Japanese after the original one built by the Koreans collapsed in the late 90s), the 5-star hotel complex includes presidential suites, executive suites, and 388 panoramic sea-view guest rooms. It also includes 68 villas floating amid Palau’s world-renowned sea of mangrove and deep blue waters fringing the Pacific Ocean, where is populated by a variety of marine lives and corals. To further boost tourism of the island republic, the Project will be fitted with restaurants that serve international cuisines, function rooms with banquet and conference facilities, bars and spa facilities, a fully-equipped yacht club with berths of international standard, retail and shopping complex, and a health centre manned by western and Chinese medicine practitioners. The hotel complex will be managed by the world famed Wyndham Hotel Group.

Palau is an island republic located in the western Pacific Ocean. It contains approximately 340 islands, forming the western chain of the Caroline Islands in Micronesia, and has an area of 466 square kilometers. Once a part of the Spanish East Indies, Palau was later sold to the Imperial Germany before being conquered by Imperial Japanese Navy during WWI and became Japan’s South Pacific Mandate until end of WWII. After WWII, Palau turned from a US-governed Trust Territory of the Pacific Islands into a presidential republic under a Compact of Free Association with the US who provides defense, funding, and access to social services. Palau is strategically located in the western Pacific Ocean sharing maritime boundaries with Indonesia, the Philippines, and the Federated States of Micronesia, where one of the famous Allied offensive during WWII, Battle of Peleliu and Battle of Angaur of the Operation Forager, was fought. Palau’s economy is based mainly on tourism, subsistence agriculture and fishing.

A second and more substantive investment and development project lead by Prospect Time International Investment Limited is the US$1,035 million transportation infrastructure and as overall buildup of the 9-square kilometer island of Angaur in Palau. The Project involves a 3,000-meter tarmac airport for international air traffic, a deep-water container terminal port for cargo and passenger cruises and ocean goers. Both will be fitted with immigration and custom facilities and counters.

Located southwest of Palau, Angaur is a tiny limestone island popular as a surfing location accessible by boats and small planes. Other than tourism, phosphate mining had been one of Angaur’s major income source. It is also a site of a major WWII battle – the Battle of Angaur, which was part of the larger offensive campaign called Operation Forager that lasted from June to November 1944. It is also the only place in Micronesia that has feral monkeys. Therefore, it is also called the Money Island. The eastern side of the island is mostly sandy with rocky outcroppings, while the western side of the island has a small lagoon with a small fishing and transportation port. Populated by 130 inhabitants, Angaur is the only area in Palau that gambling and casinos are legalized with readily available infrastructures such as water reservoir, electricity power plant, telecommunication and road networks.

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Selected site for Project on Angaur Island, Palau
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Selected site for the 5-star hotel complex
on Koror Island, Palau

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