Waterfront Manila Phase one reconstruction pushed to 4Q24

The timeline for completing phase one of the reconstruction of Waterfront Manila Hotel & Casino in the Philippines has been postponed to the fourth quarter of 2024. 

This update was disclosed in a filing to the Philippine Stock Exchange on Thursday by the venue’s promoter, Acesite (Philippines) Hotel Corp.
The last update regarding the reconstruction timeline was scheduled for May this year. 
Waterfront Philippines Inc. initiated the redevelopment of the Manila casino-hotel property in 2018 following a significant fire incident that damaged its podium and claimed six lives.
Acesite also provided updated reconstruction timelines for the project. Phase two is now expected to conclude in the second quarter of 2025, while phase three is anticipated to be completed by the fourth quarter of 2025. 
Previously, in its October filing, Acesite had projected phase two to finish by January 2025 and phase three by May 2025.

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