Marianas Variety

Last updateSat, 23 Feb 2019 10am







    Saturday, February 23, 2019-5:17:02P.M.






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Land near Hyatt Guam sells for $6.25M

HAGÅTÑA (The Guam Daily Post) — Two parcels of beachside land next to the Hyatt Regency Guam Resort and Spa recently sold to a Taiwan-affiliated investor, which has a Guam-registered company called Evergreen Phoenix Resort.

The indicated price was $6.25 million for the neighboring two lots, with a total area of 8,132 square meters.

The Guam-based family that sold it purchased the same land in 2004, which was one of Guam’s lowest points in real estate for more than a decade, for nearly half of $1 million, Department of Land Management records show.

At more than $6 million in selling price recently, the two lots sold for about $768 a square meter.

The same Taiwan-based investor acquired one of the last oceanfront pieces of land — 50,470 square meters — in Tumon Bay for $34 million in 2016 or just below $700 per square meter, Land Management records show.