Suntrust Home Developers, a unit of Suncity Holdings, said its directors have approved a change of name to Suntrust Resort Holdings to reflect the nature of its business.
The group said its primary focus is on developing tourism-related businesses.
Its main project is an IR under construction in Entertainment City in Manila, known as Westside City. Last week, the group announced it was doubling its authorized share capital to provide extra financing. It increased its capital stock from PHP23 billion to PHP50 billion.
The Westside City project will include a 5-star hotel with at least 400 rooms, a casino with 400 gaming tables and 1,200 slot machines for both mass and VIP markets, and a 960 space parking lot.