In an interview, he said Sunshine 100 was interested in leasing 1 million square meters of land in Marpi.
The company plans to build a high-rise residential and commercial condominium in the area that includes Palms Resort all the way to Wing Beach, Fitial said.
If the project pushes through, he said it will be the biggest real estate development in the commonwealth as it requires a $2 billion investment and five years to complete.
Founded by Yi Xiaodi in 1999, Sunshine 100 focuses on providing China’s emerging urban white-collar and middle class market with innovative residences and fashionable lifestyles, its website stated.
Sunshine 100 said it has developed more than 20 large-scale projects in Tianjin, Chongqing, Changsha, Ji’nan, Nanning, Shenyang, Chengdu, Wuxi, Yantai, Dongying, Liuzhou, Guiling and many other cities, including Mandaluyong, Metro Manila, the Philippines.
Since 2000, Sunshine 100 said it has kept a steady growth rate of over 3 percent, with a product pre-sale rate of over 90 percent each year.
Since 2004, it said it has been continuously recognized as among “China’s 500 most valuable brands.”
Fitial said the real estate executive officials already came here shortly after he was elected governor five years ago. He showed them a property on Capital Hill but they were not interested.
“I’ve been going after them,” he added.
Just recently, the governor said Sunshine 100 partnered with Luen Thai Holdings in developing 1.8 million square meters of property in China.
Luen Thai Holdings’ non-executive director is Willie Tan of Tan Holdings.
Fitial said he is very happy that Sunshine 100 finally came back to the island.
He said he has been to six cities in China to see for himself the projects of Sunshine 100.
He said the CNMI government has already learned a lesson from previous foreign investors whose plans never materialized.
“Those were all speculators. They came here just to look for opportunities,” Fitial said.
