In the face of the ongoing coronavirus pandemic, Suncity, Chow Tai Fook and VinaCapital Group have taken the decision to delay the launch of their Hoiana integrated resort in Vietnam’s Quang Nam province until 2021.
Nevertheless, the companies said they would still strive to host an “exclusive preview” of the $1bn first phase of the project later this year. “The highly anticipated grand opening of Hoiana is now scheduled to happen in 2021, with an exclusive preview of Hoiana in summer 2020 as a consequence of the uncertainties brought by coronavirus,” stated Suncity Group chairman Alvin Chau. “Suncity’s investment in Vietnam is intended to be for a very long time. Now, there may be flight and visa disruptions to Vietnam; however, our long-term confidence towards the Vietnam market remains positive.”
The first phase of Hoiana will include a casino with 140 gaming tables and 1,000 slot machines, along with restaurants, an 18-hole golf course and more than 1,000 hotel rooms.
“We are working hard to ensure that Hoiana will be ready to welcome our first guests in the preview in summer. All of these set the stage for 2020 and beyond to become transformative years ahead for Suncity,” Chau continued. “The coronavirus pandemic brought the world into an uncharted territory, where lots of businesses were disrupted. I am aware of the persistent impacts that the pandemic brought to the global economy. Markets have been extremely volatile as a result of the virus, consumer confidence dwindles, visas temporarily stopped and quarantine measures were put in place across borders,” he added.