Phase 1 of Casino Resort in Vietnam by the end of the year

The first phase of the multibillion-dollar casino resort complex (a rendering photo of an artist) on Vietnam’s central coast, a project partially backed by Suncity Group Holdings, is expected to be ready and launched by the end of the year. Andrew Roqai Bong, executive director of a Hong Kong-listed company, said in a commentary to GGRAsia.

The listed company is chaired by veteran junket investor Alvin Chowchukwa, who also heads privately owned Macau junket company Suncity Group.

As part of the first phase of the Hoiana Games Resort in Vietnam, two towers, called condo-hotel spaces by promoters, will provide a total of 270 units. According to recent data released by Suncity Group, a junket company, the facilities will be branded as “Hoiana Residences” and will be on sale in an unplanned Hong Kong-style, or from Jan. 7-9 before actual construction is completed.

In an interview with GGRAsia, Lo explained that the sale will mainly be aimed at “foreign buyers,” especially those with ties to the gaming sector.

Potential buyers included Suncity Group customers and some junket companies in Macau.

He added: “These kinds of deals typically allow [promoters] to earn a one-off income, but more importantly, when we sell units to people in the sector, it helps to drive business along with our existing customers and partners.” He did not specify how much the group was looking to generate from real estate sales.

Located in Hoi An, Vietnam, multi-phase Hoi An Plan is a venture of Hoi An South Development Limited. Vietnamese wealth manager Vina Capital Group and a subsidiary of Hong Kong’s Chautai Phuk Enterprises Limited have also been linked to the plan. Listed Sun City Group Holdings completed the acquisition in August 2018 that secured a 34% stake in Hoi An Plan.

Capital expenditure in the first phase of the casino resort plan also increased from just $650 million to about $900 million under the original flag, as more facilities and rooms are being built, according to Mr. Law.

The facilities available until the first phase of the rollout is expected by the end of 2019 will include a golf course, a Hoana Residence condominium-hotel and a hotel from Hong Kong real estate developer New World Development Limited, Mr. Law said. A total of three hotels planned for the first phase will online their total room inventory to more than 800 in addition to two towers at Hoana Residence.

Rosewood Hotel Group, an affiliate of Chow Tai Fook Enterprises, is a partner in casino resort planning. One of the group’s hotel brands will appear in Phase 1. There will also be “Hoiana” branded hotels, Lo added.

Hoana’s developers will proceed with the construction of the second phase of the casino resort plan “later this year,” Mr. L

BY: 릴게임사이트

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