Westside City Project progressing as scheduled, Suntrust says
SunTrust, Suncity Group’s subsidiary in the Philippines, has said the arrest of Alvin Chau Cheok Wa won’t affect the Westside City Project’s completion date.
The Philippines.- Suntrust Home Developers Inc has confirmed that the development of its new Manila casino will remain on track despite the arrest of Alvin Chau Cheok Wa, CEO of parent company Suncity Group. The company has reported that the Westside City Project’s will be completed no later than March 31, 2024.
The subsidiary said that Alvin Chau Cheok Wa’s arrest in Macau “is not expected to have a significant impact on the construction schedule of the West Side Hotel and Casino.”
Suncity Group Holdings Ltd. owns 51 per cent of Suntrust Home Developers shares. Suntrust added that as of September 30, its balance sheet reflects “approximately PHP7.7bn (US$152.7m) in cash and cash equivalents, which will support the immediate construction and operation of the Westside City Project.”
The US$1bn project will include 400 gaming tables and 1,200 slot machines, 400 five-star hotel rooms and 960 parking spaces covering 44,000 square metres.
