Suncity confirms Vietnam IR acquisition plans

Suncity Group Holdings on Wednesday confirmed its plans to acquire a 34 percent stake in a US$4 billion integrated resort project located in Hoi An, Vietnam.

The project consists of seven phases to be developed over a span of 13 years, which includes tourism areas, an integrated resort complex and residential areas.

Phase 1 will consist of a world-class casino, an ultra-luxury Rosewood Hotels & Resorts, a 445-room hotel and 200 buy-to-let condos; and a championship golf course-country club by Robert Trent Jones II, as well as recreational facilities including a beach club and entertainment venue for live shows and events, watersports and dive centre, and a promenade packed with bars and restaurants and is expected to commence operations by the second quarter of 2019.

“HOIANA is set to rank among Asia’s most renowned resort destinations, offering a self-contained world of entertainment, leisure, pleasure and luxury lifestyle,” said HOIANA’s head of business development, Ms Amy Do.

“This unrivalled, world class integrated resort and leisure playground will set a new benchmark for high-end tourism in Vietnam, bringing economic prosperity and opportunity to Quang Nam province.”

The developers have committed to establishing a hospitality school that will train employees not only for HOIANA, but other tourism businesses in this growing region.

“HOIANA is set to be destination for visitors and residents alike. Beyond directly creating thousands of jobs, HOIANA will play an important role in supporting businesses in the community. This development is truly a game changer for the central Vietnam region,” added Ms. Do.