Connect with us

Hi, what are you looking for?


Suntrust taps Megawide for hotel casino

SUNTRUST HOME Developers, Inc. is tapping Megawide Construction Corp. to build its hotel casino project in Parañaque City.

In a disclosure to the stock exchange on Monday, Suntrust said it awarded a P6.29-billion contract to the engineering and construction firm to build the first phase of the hotel casino.

Megawide, in a separate disclosure on Monday, said the contract involves excavation, building the basement substructure and superstructure, and architectural builders works and finishes, among others.

“The company will further update the Philippine Stock Exchange, Inc. once the definitive agreements have been executed by Suntrust and the company,” Megawide said.

Suntrust and its partner Westside City Resorts World, Inc. are co-developing a hotel casino at the Manila Bayshore Integrated City, which will be part of Megaworld Corp.’s Westside City.

The 31-hectare Westside City development is described in its website as a “casino-filled entertainment city” with 4,000 residential units, entertainment facilities and luxury mall and hotels.

The “Main Hotel Casino” of Suntrust, for which it tapped Megawide, is envisioned to have 400 hotel rooms, a casino establishment with 400 gaming tables and 1,200 slot machines, and a parking facility with 960 slots.

Suntrust was previously in the business of real estate development, and started its focus in tourism with the entry of Hong Kong’s Suncity Group Holdings Ltd. as a majority investor last year. The company is now 51% owned by Fortune Noble Ltd., a wholly-owned subsidiary of Suncity Group. — Denise A. Valdez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



THE PHILIPPINES lags regional peers in terms of the share taken up by solar and wind energy in its power mix, energy think tank...


THE PHILIPPINE government tempered its economic growth target for this year, as rising inflation and ballooning debt threaten to hamper the economy’s recovery from...


By Keisha B. Ta-asan SOURED LOANS held by Philippine banks declined for a third straight month in May, bringing the nonperforming loan (NPL) ratio...


THE NATIONAL Government is hoping local government units (LGUs) will channel their expanded budgets into raising agricultural output, Finance Secretary Benjamin E. Diokno said....


THE MARCOS administration should immediately address power supply shortages and high electricity rates, which are affecting businesses in the country, the Philippine Chamber of...


MANILA Electric Co. (Meralco) has confirmed receipt of an order from the Energy Regulatory Commission (ERC) directing the country’s largest power distribution utility to...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.