Guam land sale/ development opportunity

We are representing a company that owns 168,000 sqm of undeveloped land in the Piti district of Guam, approx. 500 meters from the ocean and near the entrance to the naval base/port.
Land can be developed per the buyer's preference, and a design firm has prepared an initial plan for a 167 unit subdivision development which can be utilized.
With a majority of the population fully vaccinated, Guam is in good position for recovery. Tourism business is expected to return, and with ongoing transfer of US servicemembers and civilian support personnel to Gaum and a limited supply of properties for development on the island (especially near the Navy Base Apra area), this property is ideal to satisfy the housing demand.
This property can be a good fit for various types of individuals/entities seeking to diversify their investment opportunities.

Transaction: Sale of the property holding company or direct sale of the property
Price: US$3.372mn and negotiable. (As a point of reference nearby land is listed at $30/sq m, which implies USD5.0mn when applied this target property)

・ 11 km south of downtown Tamuning
・ Opposite side to US Naval Base Guam of Apra Harbor
・ Backside of Sumay Pub and Grill restaurant (Located on Route 1)
・ Connects to Route 1 via an access road
・ Entrance is 500 meters from the coastline
・ Plateau area of the property has ocean view
A teaser is available which shows exact location, area maps and overview of the subdivision plan.

The property seems best suited to build housing for military personnel/families, staff at the nearby port or other Guam residents.