Hoi An South Development Co. Ltd. (HASD), a Vietnam-based joint venture led by Suncity Group Holdings, has won a license to operate its integrated resort, called Hoiana, on the central Vietnamese coast.
In a filing to the Hong Kong Stock Exchange, Suncity said the US$4 billion project will launch its first phase in early 2021. The license itself is valid until December 2080.
Suncity holds a 34 percent stake in Hoiana; its partners in the project are Chow Tai Fook and VinaCapital Group.
“I am thrilled to be granted a casino operating license in Hoiana,” said Suncity Group CEO Alvin Chau, who said the development marks a new day for Suncity.
“This is a very exciting time to witness my vision for Suncity to sprout from ground zero into a truly integrated resort company—a true metamorphosis for Suncity,” he said. “Hoiana is now finally allowed to open its doors to offer guests an authentic Vietnamese experience embellished with sun, sea and sand. … Stay tuned for Hoiana’s exclusive preview in the summer and the grand opening in 2021.”
GGRAsia reports that Phase 1 of the development will include four hotels offering more than 1,000 rooms, suites and villas, including the all-suite Hoiana Hotel and Suites with 24-hour butler service; New World Hoiana Hotel and Residences; KHOS Hoiana, a “brand-new hospitality concept” including “social hubs,” as well as a Rosewood Hoi An property, to be opened later, featuring villas.
The beachfront property in Quang Nam province, on Vietnam’s central coast, will also have a beach club. An 18-hole golf course was opened on March 2.
The property is also said to be offering an “array of food and beverage and retail brands,” and “performances and entertainment activities for both gaming and non-gaming guests.”
In related news, Suncity’s Japan subsidiary was one of only two candidates to qualify for the local RFP (request for proposal) process to develop an integrated resort in Wakayama, Japan.
