BRD’s $59 million investment in Ngaraard

The proposed site for the resort is comprised of public and privately owned properties.  Records at the Palau Foreign Invest Board indicate that the properties have been leased for a term of 50 years, “extendable as allowed by law.”  Further the records indicate that BRD leased the properties for as much as $6,760,000 – roughly about 34 cents per a square meter.The records, inclusive of a perspective plan of the proposed resort, show that BRD estimates to spend as much as $59, 400,000 to construct the resort and will employ stringent environmental standards in all stages of the development.  Further, BRD expects to employ as many as 238 people – from the resort manager to the gardener – if and when the resort opens for business.The resort complex would be build adjacent to the North Beach Cottages in Chol, Ngaraard and would encompass all of the land – from the coastline to the Compact Road – southward to the edge of the last property leased.The proposed new development to Ngaraard State is said to be an “excellent foundation for quality economic development” for the state.Concerns and questions about how the citizens – particularly resident citizens – of the state will benefit from this economic development have been raised.  Further, members of concerned environmental groups are keeping close watch of the development.