Suncity moves towards Hoi An project

Goal Summit, a subsidiary of Suncity Group, has signed MOU with the company to get the whole equity interest and shareholders loan to Star Admiral.

Vietnam.- Suncity Group Holdings has signed a MOU through its subsidiary Goal Summit Ltd to acquire equity interest in and shareholders loan to a company related to an integrated resort project in Hoi An South in Vietnam: Star Admiral Ltd. The deal involves a service provision MOU, which consists of a consultancy and management services supply by Suncity Group Management and Consultancy (Hoi An) Ltd. to Hoi An South Development Ltd (Project Co), owner of the integrated resort project.

Acording to Asia Gaming Brief, Lo Kai Bong, an executive director of Suncity Group will provide consultancy services to the company’s chairman and executive director Alvin Chau. The integrated resort project is under development in Hoi An South, in the Quang Nam Province of Vietnam and will include a tourism area, integrated resort a nd residential areas with a total area of nearly 985 hectares.

The project will be built in phases, the first of which includes the building of the integrated resort complex with entertainment and retail facilities, which will have a casino with 140 gaming tables and 1,000 slot machines. It will also have a golf course clubhouse, a mass market hotel with 313 hotel rooms, an all-suite hotel with 136 suites, a hotel villa resort with 70 units, 30 villa units for sale and timeshare rental, and a condo-hotel with 236 rooms, also for sale and timeshare rental. Phase 1 is under development and is expected to be completed by 2019.