By Jackson Henry —-
As a practicing Realtor, I entertain a variety of international clients seeking properties for residence, investments and for resort developments. Most of my resort developers prefer properties in Koror and Airai, however, there are virtually no prime sites left, especially those with water frontage. Properties with beach fronts, navigable waters and sunset views are the “prima donnas” in resort development. 80% of the world’s 5-star resorts have sunset views.
Given that tourism remainsPalau’s “taro and fish” industry, I see its future growth stunned due to lack of prime resort sites, particularly here on Koror and Airai, which presently occupy the “top seats” of our nation’s tourism industry.
Welcome to the idea of a Tourist Entertainment Center (TEC). TEC are areas designated by law and zoned as hubs for resort development and various tourist entertainments like shopping, bowling alleys, amusement parks, museums, ice rink, water parks, night clubs, restaurants, roller coaster rides, zoo, and even casinos, in one central location. They cater to tourists of all ages, income and ethic backgrounds. TEC is a fresh concept forPalauto create a world class tourist attraction that will rival other destinations inAsia. Only by having a TEC, canPalau’s tourism industry expand and reach a unique echelon of high end destinations with ever enhancing appeal to the world market as a visitor magnet.
How do we create a TEC? Only through a pragmatic legislation.Palauneeds to compile a new zoning law designating areas as TECs. The law should have incentives, particularly for those far flung states. Tax breaks during construction periods, fast track permit approvals, and friendly land leases should be its key ingredients. Several years ago, I bounced the TEC idea with Polycarp Basilius, one ofPalau’s pioneer entrepreneurs, and he suggested Peleliu and Angaur as the ideal sites forPalau’s first TEC. He pointed out that these two states’ flat land, natural beaches, lots of sunset views, great fishing grounds and proximity to the famous rock islands, are the main factors that make them a targets for TEC zones. Best of all, these two states have airports.
The TEC idea is not new. If you glance the global scene, you can easily identify them.Singaporehas Sentosa Island,Koreahas Jeju Island,South Africahas Sun City,USAhasLas VegasandEPCOTCenters, andChinahasMacau.Japan’s Pachingko magnate, Kazuo Okada, is building a $2 billion TEC along the shores ofManilaBayin thePhilippines. Our good neighbor of Yap, represented by Chief Bruno Tharngan of the Council of Pilung, has signed an MOU with a Chinese developer to build a TEC onYap.Palauneeds to start creating its very own TEC with advises from high caliber architects and designers from around the globe.
Palau’s TEC does not have to gaudy, opulent or over-the-top. With help of professional planners, we can have it designed with good taste, a culturally relevant Palauan theme, blending with the natural surroundings and with environmental sensitivity at its forefront. By striking the balance betweenPalau’s pristine environment and quality development, canPalaumaximize its economic benefits of the growing world tourism trade. I believe TEC is an idea whose time has come. In our quest to create a sustainable economy and cease our dependence on other nation’s hand outs, TEC is a very promising idea forPalau.
