A look at CNMI’s real estate

This is a photo I took of the ruins of La Fiesta Mall in Tanapag which remains as a mute witness to
Saipan's days of glory. Photo taken from the 15th floor lobby of Palms Resort hotel.

MORE than a decade ago, Saipan was an island bustling with activity. Economy was at its peak, with new buildings and establishments sprouting all over the island. Houses, apartments and commercial buildings were filled and bursting at the seams.

About ten years after, the last of over 30 garment factories closed its doors and ended the era of what can be considered as Saipan’s “glory days.”
People are leaving the island in droves looking for better opportunities in other places, leaving residential and commercial buildings to ruins.
For the past years, “For RENT” signs mushroomed in buildings all over the island, adding glumness to the already bleak economic atmosphere.
Ronnie Hodges, a licensed real estate broker and auctioneer in the commonwealth said that the CNMI has “crumbled to the worst real estate in America, and arguably among the world’s worst, possibly edging out Antarctica for the title.”

Downward factors

Hodges said that the real estate market is considerably worse than five years ago although it’s tough to gauge in such a stagnant market.
“We have worsened economically for a myriad of factors that are well known by everyone here,” Hodges said.

Financing issues

He pointed out that financing issues is one factor, with the local banks taking depositor’s money and reinvesting it in Hawaii and Guam to stimulate their economies with commercial and residential developments.
“Perhaps the banks are jaded with our land alienation laws and history of protectionism,” he said.
Citing an example, Hodges said that when a bank does loan money here, and the borrower doesn’t pay his mortgage, there is a right of redemption.
In other words, this means no one can buy the land to start with, and if they loan money on it, the lending institution will have an incredibly long and expensive ordeal to repossess the property. He added that the lack of accurate appraisal may also be a factor in banks apprehensions about lending. Hodges added that maybe the banks are fed up and have now wised up.

Abundance of junk housing

Hodges said that the islands have a huge glut of junk housing that could be considered somewhere “between cheap and free” and most should be condemned and destroyed.
“We have limited quality housing and most of that is owner occupied and either not for sale, or very expensive,” he said.
On Saipan, Hodges said the ANAKS apartments in Puerto Rico may be the most expensive residential units or condos that offers long term lease between 75k and 250k depending on size and view angle. Residents of these apartments pay a monthly rate somewhere between $1,000 to $1,700, not including power and utilities from $700 to $1,000 but they have the advantages of security, potable water, location, and other amenities.

Risky investments

Hodges said that these factors and more make it difficult to build and make your investment productive as well.
He said that for example, when an individual borrows $200,000 to lease land and build a home, the general formula means his monthly payment is $1,000 per $100,000 borrowed. This means that he would need to rent that house at $2,000 per month to break even for time, trouble, and risk he spent on the investment.
“That is why we have little construction here,” Hodges said.
He added that Article 12, the controversial land ownership issue, is the most sensitive economic obstacle to success.
“Our economy will never improve until it is changed,” he said.

Declining homestead values

Hodges said that another local real estate concern is the steep decline in values in our homestead areas.
He said that wealthy people or affluent tourists generally will not reside in problem areas.
“Between the stray dog problems, crime and poor aesthetic appeal of our impoverished homesteads, the values have gone down,” Hodges said.
He added that the local people who have been penalized by the island’s protectionism are the locals who did the right thing by building nice improvements and maintaining their property. But these improvements suffered because their neighbors built tin shacks and plummeted every property in the areas value.
“Until that is addressed, our homestead residents will suffer from low property values,” Hodges said.

Chance to recover

But Hodges said that although the CNMI’s real estate portrays a bleak picture, there’s still a chance to recover.
“The future is in our own hands, now more than ever before. We have a few advantages – our uniqueness, geographical location, being small, and some degree of autonomy,” Hodges said, adding that some, like Bermuda for instance, have managed those same qualities into unimaginable wealth for their indigenous populace by exploiting their strengths.
He added that those qualities can be explosive but bureaucracy, corruption, and protectionism never create prosperity.
He said that the commonwealth’s strength should be an ability to adapt and change quickly to a rapidly changing world.

(First published HERE)

Dining on steak and seafood

fish steak for lunch

THE search for the ultimate yet affordable steak and seafood on Saipan ends at Coco Restaurant, located right in the heart of Garapan.
The Coco Restaurant prides itself on being the only one on island which has a grill right inside the restaurant, and you can’t help but give in to the mouth-watering anticipation seeing the steak, fish or seafood you ordered being charcoal-grilled, juices dripping and cooked to perfection to however you want it ­— either medium rare, done, or well done.

From the outside, Coco Restaurant evokes a homey ambiance that promises a place to dine and melt away your stress at the same time.

medium rare steak

Lunch or dinner starts with a trip to the salad bar which boasts of a wide selection of fresh vegetables, sauces and dressings. At the salad bar, the “eat-all-you-can” rule holds.

As soon as your steak or seafood order is served, you can start digging into it and glory in each bite. The steak is heavenly, and so is the Mahi-Mahi grilled fish.

waiting for their turn at the grill

The last juicy bite of your steak or seafood is not the end of your meal. Cap your lunch or dinner with a cup of coffee or a scoop of ice cream for dessert.

Regular items on the lunch menu include New York steak, tenderloin steak, hamburger steak, local fish, seafood and teppanyaki, steak and lobster, and eat-all-you-can assortment from the salad bar, all ranging from $10 to $15.

dessert--a scoop of ube ice cream

Anniversary promo

For the first time, Coco Restaurant celebrates its anniversary and will treat its clients to huge discounts.

Steak and Seafood Coco Restaurant vice president Takayuki Hirosawa said that starting today (Oct.5) until Dec. 15, which is the restaurant’s 12th anniversary, Coco Restaurant offers a 50 percent discount, or $20 off on its New York Steak and mixed seafood Teppanyaki for dinner special. The orders include salad bar (unlimited), soup, and refillable rice or bread.

The 15-oz. steak is more than enough to fill a hungry stomach, and with sea foods shipped in from Japan, you will get your money’s worth, and more. They also offer a 50 percent discount on selected beers.

The Coco Restaurant can accommodate 100 persons and has three VIP rooms which seats 30, 12 and six people.

For reservations or more information, please call 670-233-2626, 234-3777, email info@cocosaipan.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it or visit www.cocosaipan.com.

This article was originally published HERE

p.s.

Visiting this restaurant on a hungry stomach is enough to make you crazy, what with the charcoal grill resembling a firestone permeating delicious smells as the juices of the steak and seafood dribbles and sizzles onto the charcoal. I ordered the fish steak lunch special- grilled mahi-mahi with baked potato and rice. My companions Jeanette, Arnold and Andrew all went for the steak. I got a taste of Andrew's well-done steak just the same by bartering a slice of my mahi-mahi. Very satisfying lunch indeed, if only we had all the time in the world to linger over coffee but then it was 2 p.m. and lunchtime was finished. oh maybe, next time!

A taste of Korea at the Hyatt Regency

DINERS who crave for Korean cuisine are in for ten days of a mouth-watering feast as Hyatt Regency Saipan celebrates the Chuseok festival at its Kili Café & Terrace.

To give its diners a taste of authentic Korean cuisine and bring the spirit of “Chuseok”, a Korean thanksgiving celebration here, Hyatt Regency has brought in two chefs from the Hyatt Regency Incheon.

“From Oct. 1 to 10, diners at the Kili Café & Terrace will be treated to a wide selection of authentic Korean buffet prepared by two chefs from Korea,” Hyatt Regency Saipan’s executive chef Gabrielle Colombo said.

Kyoung-Yoon Jeong and Kim Tae Hoon arrived on Saipan on Tuesday and will be staying until Oct. 11.

The two chefs said that the diners can expect a variation of Korean dishes every night.

Colombo said that Hyatt Regency Saipan’s restaurants host various festivals throughout the year, but it has been some years since they brought in chefs from other countries.

“This time, we would like to bring Korea here to make our diners enjoy the true taste of Korean cuisine,” Colombo said.

Joong brings with him six years of experience at the Hyatt Regency Incheon while Kim has been with the hotel for the last four years.

But the two chefs had been assigned in other Hyatt hotels in Thailand, Philippines and other countries before.

Colombo invites the community not to miss dinner times at the Kili Café & Terrace and indulge into the chef’s creations like a spicy Korean Hot Pot, marinated grilled meats and seafood, and traditional dishes like Bulgogi beef stew and Kimchi pancakes.

He said the dining at the Kili Café for the Chuseok festival is a rare experience that cannot be equaled to dining in a Korean restaurant here.

“It’s an eat-all-you-can, drink-all-you-can feast on Korean dishes that you shouldn’t miss, and the food choices are endless,” Colombo said.

Included in the Chuseok festival dinner buffet is a wide selection of appetizers like assorted organic greens with choices of dressing and condiments, Shitake mushrooms muchin, Bulgogi mixed salad, Korean beef tartare, fresh tofu salad, Japchae, glass noodle salad and various kimchi.

The seafood bar carries reef red sashimi, seared bonito tuna, spicy lime dip, green mussel, snow crab, fresh Pusan oyster, fresh river shrimp, lemon wedges, miso bean dip, mignonette, wasaby cocktail sauce and spring onion sauce. The live cooking station offer diners assorted Korean pancakes with dipping sauce and seafood bibimbam rice.

The hot selection bar carries steamed rice with selected beans, braised chicken with spicy vegetables, Angus beef with rib stew with soy sauce, fried squid with chili sauce, and grilled autumn vegetables with marinated garlic. Top off your meal with tempting delights from the dessert bar—a selection of traditional Korean sweets and desserts.

The Chuseok dinner buffet at the Kili Café is open from 6 to 10 p.m. from Oct. 1 to 10 for $35 per person. For reservations and more information, call 234-1234 extension 26.

This article was first published at the Marianas Variety Oct. 2,2009 issue.

Going underwater at Managaha Island

Managaha Island
Photos by Kotaro Tsujino

Inhale. Exhale. Inhale, exhale! C’mon you can do it. Practice breathing through your mouth!
This was the first time I was given breathing lessons and I was finding it hard with the mask on my face, over two pounds weight tied to my waist and an oxygen tank strapped to my back.

Two dive instructors from the Aquaconnections dive shop checked our progress as they gave me and my three office mates Jeanette, Arnold and Andrew a crash course in scuba diving. I had wanted to try diving for a long time but always backed out at the thought that I would be required to learn how to swim first.

There I was, drowsy after a leisurely lunch and dragging my heavy body into the pristine waters of Managaha Island one Saturday afternoon, asking myself if I could really do it.

I had visions of taking Scuba Diving 101 and undergo hours of classroom instruction where we will be introduced into the different diving gear and their uses and be given time to practice wearing them on dry land before being launched into the water. I had tried snorkeling a couple of times in Davao and in Palau but snorkeling was different.

But there we were, doing a few minutes of underwater breathing exercises and before we knew it, our instructors were guiding us deeper beneath the huge waves, holding onto the ropes to stay together.

For first timers, we sure picked up a windy day where strong currents make diving difficult but we didn’t know that yet. We held on to the ropes as lifelines as we edged our way down into the deep. (well, not that deep at 8 feet, but for a non-swimmer like me, it sure was deep!)

Our instructors monitored us, checking if we were doing okay and gauging our breathing by the bubbles we made. We had to give them the "ok" signal with our hands from time to time.

I was exhilarated thinking I was actually scuba diving when suddenly, everything went dark and all I saw were strands of dark floating things covering my mask. I forgot to breathe through my mouth and I then remembered that I was a non-swimmer. What was I doing underwater when I can't even float a meter's distance? Panicking, I flailed my arms and tried to surface. A dive instructor immediately assisted me and pushed me to the surface where huge waves tossed me around. He told me to relax and turned me face up on the water as I took in huge gulps of air. I realized my hair had gone loose and covered my mask but after I fixed my hair, I assured my instructor I was definitely going down again.

I forgot all kinds of fear when we reached our destination. Multi-colored fishes swam toward us and around a bed of corals we couldn’t help but reach out to touch them. Everything was just beautiful.

We stayed down for about 25 minutes before our dive instructors signaled us to go back. It was a first experience which just spurred my interest to go diving again.

Completing our scuba diving experience was photographer and diving instructor Kotaro Tsujino of Underwater Adventures who documented our first attempts at diving. Tsujino said he had been photographing and taking underwater video of divers for several years, including events like underwater weddings. He can be contacted at 670-322-0599 or email him at otanog@pticom.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Our dive instructors from the Aquaconnections were Youme Sharry and Takehiro Fukuya but they have two other instructors—Tohru Narita and Donato Beside. You can visit www.saipan-aquaconnections.com or email them at aquainc@pticom.com for more informationThis e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Diving at Managaha Island is indeed an experience you would like to do again and again!

To get to Managaha Island, call Tasi Tours & Transportation Inc. at (670) 234-7148, fax (670) 235-7141 or email managahatasi@tasitours.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it .

This article was first published HERE

Hot & Spicy Wednesday nights at the Palms

IF the craving for something spicy and hot-hot-hot hits you, the place to be is at the PauPau Bar of Palms Resort Saipan on Wednesday nights.

A wide selection of hot & spicy dishes.

Last Wednesday, the restaurant launched its “Hot, Hot and Spicy night” theme with a full buffet of the hottest and spiciest dishes you could ever find in the island.

Palms Resort Saipan Executive Sous Chef Habib Akbar said this is the first time they are offering a fusion of Mexican, Mediterranean and Indian cuisine all on Wednesday nights.

“We would like to offer our clients variations in our hot and spicy buffet each time, in addition to the main dishes,” Akbar said.

The best sellers for the night are the fajitas, beef and chicken shawarma, spicy kebab, burritos, tacos, nachos and a wide array of curry dishes and salads.

A wide selection of tempting desserts is available in one section of the PauPau Bar—fresh fruits and cakes and desserts that carry Mexican flavors.

Complete your ‘Hot! Hot! Hot” dinner at the PauPau Bar as you choose from a wide selection of sumptuous dishes and cap your dinner with a choice of bottomless miller draft beer, tequila, or iced tea.

Nothing beats having a hot and spicy eat-all-you-can dinner with the blend of savory spices and herbs permeating the air, attentive waiters and staff garbed in Mexican attire assisting you to your tables, singing chefs serenading you with favorite hits, and a superb sunset at the backdrop.

Akbar said that in the next weeks, they would provide Mexican beats to add to the festive air.

“In the next weeks, customers can expect much improved services as we move toward transforming the whole bar into a Mexican-Mediterranean-Indian setting and provide customers with a satisfyingly unforgettable, hot and spicy dinner,” Akbar said.

Marianas Visitors Authority managing director Perry B. Tenorio said he enjoyed the wonderful food, the great service, the superb setting, and he “would be back for more.”

MVA’s Bruce Bateman shared Tenorio’s zest for the hot spicy night at the PauPau Bar.

“The food is fantastic, the setting fabulous and everything is a blast,” Bateman said.

Assistant Food and Beverage manager Christina Lustre reiterated her earlier statement that for Palms Resort Saipan restaurants, customer satisfaction is the name of the game.

“We are quite surprised with the wonderful turnout of customers for the launching of our Hot Spicy Nights, and for this we again thank the community for supporting us,” Lustre said.

Sunday brunch at Kaenju

True to its commitment of finding ways to satisfy the diversified palates of its clients, Palms Resort Saipan has another treat as Kaenju Restaurant opens its Sunday Brunch on August 30, 2009.

“This is another new feature we are offering to our clients, one that you should not miss and we would like to invite everybody to be with us as we launch Kaenju Restaurant’s teppanyaki Sunday Brunch,” Akbar said. For inquiries and reservations, please call 670-322-3311.

This article was originally published HERE

Minami Restaurant launches new food items

ALL the tables at the Minami Restaurant at the Palms Resort Saipan were filled as locals and tourists trooped to sample the new food items on the restaurant’s menu for brunch on Sunday. Palms Resort Saipan Executive Sous Chef Habib Akbar told the Variety they are very happy to see that the additional menu made an instant hit with the diners who made short work of the new food items from the curry station, the dessert section and Saipan’s only genuine Shawarma.

Shawarma is available in beef, chicken or lamb.

Shawarma is best eaten with hot, freshly-baked Nan bread and topped with various curry dishes.

“Our shawarma and Nan bread comes with a genuinely unique taste from the Middle East,” Akbar said.

Irresistible desserts

From Minami Restaurant’s dessert section comes various cakes and pastries that would be hard-to-say-no to.

PRS’s new pastry chef Marvin Eupeña who joined the hotel early this month presented the diners with mouth-watering temptations like carrot cake, Dobosch cake, green pea cream cake, baked blueberry cheesecake, fruit tart cake, opera cake ( a concoction of chocolate and mocca), assorted pastries and Icecream Bombe.

“Diners can expect a variation of desserts everyday,” Eupeña said.

Customer satisfaction

Assistant Food and Beverage manager Christina Lustre said that PRS has more in store for their loyal clients in the coming months.

“We would like to thank the community for being with us, and you can expect more services from us,” Lustre said.

“We will not rest until we can give our clients total satisfaction,” she added.

Minami Restaurant can accommodate up to 150 persons. It is open for breakfast (7-10 a.m.) and lunch (11 a.m. to 2 p.m.) from Monday to Thursday. Fridays and Saturdays are Steak Nights at the Minami from 6 -9 p.m. Sunday Brunch starts at 11 a.m. until 2 p.m.

Mexican Night

On Wednesday (Aug. 19), Akbar said PRS will introduce a delightful mix of new dishes as they launch the Mexican, Mediterranean and Indian cuisine at the hotel’s Paupau Restaurant.

Akbar said that the launching will feature an eat-and-drink-all-you-can at $25 per person.

For reservations, please call 670-322-3311.

This article was originally published HERE

A morning hike to Naftan Point

5 a.m. The shrill ringing of the alarm clock jolted me from an hour’s sleep on Saturday morning, and I had to drag protesting muscles up to get ready for a trek to another one of Saipan’s famous hiking destinations.

Hiking to Naftan Point, says our trek organizer Jacob, would take only about 20 minutes from his cousin’s house. We started walking in the darkness toward this historical spot at the southernmost part of Saipan, but it was only after almost an hour later when we reached the Hawaiian Rock where the real trek began. Talk about 20 minutes!
As the sun began its ascent to the skies, my energy level was slowly beginning to drain, not to mention that there was actually none to start with.

We plodded on, asking over and over how far do we have to go and agonizing over the thought of the way back until we finally emerged through a clearing and stepped into a whole new world.

A spectacular panorama was before us but an eerie silence seems to pervade the place. It felt as though we were intruders into another world.

Naftan Point is an enchanting rugged terrain, with grass-covered corals, steep cliffs, numerous caves, plateaus, bushes and more ruins and relics from the World War 2. From a distance, the Forbidden Island seemed to issue a silent but daring invitation to anyone who would want to challenge its name. Over 50 feet below the sharp cliff lines, the thunderous noises created by the crashing waves would make one think twice before standing on the cliffs’ edge.

Hiking to Naftan Point without proper ammunition (a.k.a. camera and tripod) would be unforgivable because the place is a photographer’s dream. It was not that easy to pick your way through the sharp stones and rocks concealed by the untrimmed grasses though. One wrong step and the corals you are stepping on could crack. I did not have the chance to go near the very edge of the cliffs because aside from my progress being hampered by the tripod, I had second thoughts about gambling my life and my camera from the edge. After a few quick bites of tuna sandwiches and sips of water, we took a few minutes of rest but our time was running out. With only the shelter from the huge rock, we know it would not be long before the shade would be gone as the sun gets higher.

We found an old Japanese canon in one of the ruined bunkers at Naftan Point, along with several other war relics. I could just imagine the war when the canon spewed death fumes all the way to Tinian.

We finally started our way back. And that was when everything turned awry.

Two of my companions—Jeanette and Fe went ahead of the group. The six of us followed, but Jacob got other ideas and led us into a “short cut”, which we hesitantly took. But anyway, any change in the road seemed welcome so we followed the leader. However, the road we were following seemed to be going in circles and we seemed to be walking endlessly. When we began to see pink flowers on the vines along the road, I began to guess that the trail we were following was leading to Obyan Beach, much much farther from our car. I was dreadfully right.

We plodded on and reached the end of the shady trail. Suddenly, a dusty, winding road shimmering in the noonday heat stretched out before us. Obyan Beach was a few miles below, and I knew there was no choice but to force my over-tired body to move on.

It was not easy for somebody like me whose only exercise everyday is to go up the stairs of the office or the Superior Court. Imagine walking up the Obyan Road toward the direction of Hawaiian Rock under the 11 o’clock sun, with not a single tree or shade in sight. I was at the farthest rear of the group, trying to concentrate in putting one foot ahead of the other to walk on.

With every dragging, agonizing step I took, my camera seemed to grow heavier and it took real effort to stay awake and not give in to the darkness that threatened to envelop me. After over an hour of fighting the urge to cry, I finally convinced buddy Andrew to seek some shade in the bushes. Under ordinary circumstances, I would never imagine going into those bushes. Andrew volunteered to spread his towel to cover the sharp bushes so we could sit on for a while. Just when I felt so helpless, I got a call that a car was coming for us. I could have kissed the car's wheels with joy!

Naftan Point has still so much to offer and we missed much, but I would love to go back anytime. Minus the unplanned miles of hiking.

This article was first published HERE