Suncity Group Holdings Limited (1383.HK) Entered Southbound Trading
On February 22, Hong Kong Stock Exchange and Clearing officially announced that Suncity Group Holdings Limited (1383.HK) was selected as one of the eligible southbound trading securities with effect from March 11. Mainland investors can trade shares in Hong Kong’s bond market. To further develop its businesses, the Company will continue to invest in a number of hotel projects, including HOIANA Integrated Resort in Vietnam, Tigre de Cristal Resort in Vladivostok of Russia, Paradise Hotel Busan of South Korea, Xihu Resort Hotel in Sihanoukville of Cambodia, and the first hotel project in Macao.
HOIANA Integrated Resort in Vietnam
With an expected total investment of USD4 billion, Vietnam’s HOIANA Integrated Resort covers an area of 986 hectares and is the largest entertainment resort in Vietnam. It has 100 units of private villas, a star-rated hotel with 1,231 rooms, independent all-suite hotel and serviced apartments of HOIANA. The first phase of the project is anticipated to operate by the 4th quarter of this year, equipped with phenomenal leisure and entertainment facilities, including a world-class 18-hole large golf course, as well as the forthcoming commercial space, retail stores, theme parks and sports facilities.
Tigre de Cristal Resort in Vladivostok, Russia
Suncity Group Holdings Limited (1383.HK) has acquired a partial stake in Hong Kong-listed Summit Ascent Holdings Ltd (102.HK) and has appointed directors as its board members. Summit Ascent owns the Tigre de Cristal Hotel and Resort in Vladivostok, Russia, which won the 2018 Best Resort Award in Russia last year. In the future, more hotel rooms will be available to provide a comfortable and extraordinary accommodation experience for travelers.
Paradise Hotel in Busan of South Korea
Suncity Group Holdings Limited (1383.HK) is negotiating to acquire part of the equity interest of Paradise Co.,Ltd in relation to the entertainment hub located by Haeundae Beach in Busan, South Korea. Next to the entertainment center are three buildings developed by Lotte Group. The main building, a 101-story skyscraper will be comprised of 260 guest rooms of the six-star ”Signiel Busan Hotel” situated from the 3rd to 19th floor, shopping center, service apartments and offices, anticipating to be completed in November this year.
In Sihanoukville, Cambodia, Suncity Group Holdings Limited (1383.HK) will provide management services for a 2,000-room hotel project, which is expected to commence operation in the 1st quarter of 2020. Suncity Group shall establish its first hotel brand in Macao to achieve a more diversified business development.
“At present, we have multiple hotel investment projects in discussion or under review, which will be announced later”, addressed by Andrew Lo, Executive Director of Suncity Group Holdings Ltd (1383.HK). “As an integrated entertainment conglomerate, we expect to enter the industry of entertainment resort operation through acquisitions and management cooperation.”