Embedded Files
09/16/2025 - The Senate voted to disapprove Mariana E-Land Corp.’s proposed lease for the former Mariana Resort & Spa properties, unanimously adopting Senate Resolution 24-10 during a session last Sept. 15 on Capitol Hill.
All eight senators present—including Senate President Karl R. King-Nabors, vice president Sen. Corina L. Magofna, floor leader Sen. Donald M. Manglona, and Sens. Francisco Q. Cruz, Ronnie M. Calvo, Manny Gregory T. Castro, Jude U. Hofschneider, and Paul A. Manglona—voted “yes” to the Committee on Resources, Economic Development and Workforce’s resolution recommendation the rejection of the proposed lease. Sen. Celina R. Babauta was absent.
The Committee on Resources, Economic Development and Workforce, or RED&W, earlier found that E-Land failed to provide adequate financial documentation. Despite repeated requests, the Korea-based company did not submit audited or unaudited financial statements, only bank certificates and investment figures, according to the panel.
Magofna, who chaired the committee’s review, said the Senate could not move forward without financial clarity.
“Without any financial statements, the joint committee and the Senate cannot determine the true and accurate financial health of Mariana E-Land Corp., or whether Mariana E-Land has the financial resources and capability to take over, improve, manage, and operate the Mariana Resort & Spa properties,” she said
The Senate vice president, thus, said the committee cannot in good conscience recommend approving E-Land's new lease for the former Mariana's Resort and Spa.
“It is the consensus and sentiment of the Senate committee to recommend that the Senate disapprove E-Land's new lease for the former Mariana Resort & Spa properties at this time,” she said.
She noted that while E-Land claimed investments totaling $128 million in its Saipan properties—including Kensington Hotel, Pacific Islands Club Saipan, and Coral Ocean Resort—the conglomerate’s failure to show full financial statements left lawmakers unconvinced about its ability to redevelop and manage the Marpi resort.
Magofna also recounted how the Senate and House held joint hearings in March and April to hear public testimony. Residents raised concerns about the vast scale of the lease—covering roughly 1.4 million square meters of public land—the relocation of the Marpi baseball field to Tanapag, limited community benefits, and the possibility of locking up prime land that could instead attract new industries.
“I just wanted to share to the community what has transpired and why we came to a decision to disapprove, and basically, it's to protect the interest and integrity of the property and ensure that whoever is going to take care of, take the investment that they are financially suitable moving forward, that would be the responsible thing to do for our people,” Magofna said.
In other business, the Senate passed a House bill authorizing the Commonwealth government to borrow $29 million from the Marianas Public Land Trust. The measure is aimed at helping the government meet pressing financial obligations, specifically allowing the CNMI government to fulfill its obligation to the Settlement Fund, as well as bridge the budget shortfall of the Public School System.
House Bill 24-50, which required a two-thirds vote in the House of Representatives to pass last Sept. 10, also authorizes the MPLT to withhold and retain net annual distributable income starting fiscal year 2026 for repayment and security of the loan.
Report by Mark Rabago
Report abuse