Suncity listco unit awards US$130mln Westside build deal
Hong Kong-listed Suncity Group Holdings Ltd announced on Friday that a Philippines unit had awarded two contracts worth in aggregate nearly PHP6.3-billion (US$130.5-million) for construction work of the “main hotel casino” at the Westside City Project (pictured in an artist’s rendering) in Manila.
A “letter of award” was issued to Philippine-listed Megawide Construction Corp by Suntrust Home Developers Inc; the latter a company controlled by Suncity Group Holdings that handles the development of Westside City, according to the filings of both Suntrust and the Hong Kong-listed firm.
Under the construction deal, Megawide is to be the main contractor to undertake the construction of the basement, podium and tower of Westside City’s “main hotel casino”, as well as pile capping, excavation and lateral support work.
The filing said the term “main hotel casino” referred to a five-star hotel and casino to be located at “Manila Bayshore Integrated City,” in Paranaque City.
The formal contracts will be signed between Suntrust and Megawide, according to the former’s own filing to the Philippine Stock Exchange.
Suncity Group Holdings told GGRAsia in late September that it targeted launch of Westside City for year-end of 2022, followed by a “grand opening” of the rest of the resort property in 2023.
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