Aqua City legal boost: Businesses increase confidence - Novaland strives for recovery

On November 19, 2024, Chairman of Dong Nai Provincial People's Committee - Vo Tan Duc officially approved the local adjustment of the 1/10,000 Master Plan, marking a decisive step in resolving legal issues for Novaland Group's Aqua City project, which has been stuck for more than 2 years. This is the result of the direction of the Government and ministries, departments and branches, a legal boost, creating confidence for the business community in the general policy of the Government in directing drastic legal resolution for stuck projects; at the same time, it is a launching pad for Novaland to recover and accelerate after a challenging period. Important adjustments in planning, general resolution for projects in Dong Nai The recently announced adjustment focuses on the population size and land use quota in subdivision C4, part of the urban area west of Bien Hoa - Vung Tau expressway. This is an important legal step to resolve issues for many projects of many enterprises; ensure the synchronization of the next planning levels, paving the way for the completion of the adjustment of the C4 zoning plan and the 1/500 detailed plan of the Aqua City project, expected to be completed in early 2025. This new plan will be a solid legal foundation to help the Aqua City super project soon become a satellite city in the East of Ho Chi Minh City - one of the key projects of Novaland Group.

A corner of Aqua City project (Dong Nai) - one of Novaland's key projects.

The result of relentless efforts This adjustment is the result of more than two years of relentless efforts from Novaland and support from the authorities. The Group has repeatedly proposed and recommended to central and local ministries, departments, and branches, especially the Government 's Special Task Force, to resolve legal issues for the Aqua City project in Dong Nai. This is not only to increase revenue for the Group but also to resolve legal issues to proceed with construction and handover of thousands of houses, helping customers feel secure about the products they have purchased and restore confidence in Novaland's commitment. Strong financial support Currently, banks have disbursed credit packages of up to VND 3,250 billion to implement the construction of subdivisions in Aqua City. At the same time, a number of financial institutions committed to providing additional loan packages with a total value of over VND 10,000 billion for Novaland to continue implementing infrastructure, construction and handing over houses to customers in 2025-2026. This demonstrates strong confidence from financial institutions in the development potential of the Aqua City project and Novaland.

Aqua City is speeding up construction and handover to customers.

Aqua City, with an area of ​​nearly 1,000 hectares, is planned to become a satellite urban area in the East of Ho Chi Minh City, with more than 70% of the area reserved for green space and modern facilities. The project has a prime location, only about 20 minutes from the center of Ho Chi Minh City and Long Thanh airport. This is not only a place to live but also an ideal space to enjoy life. Currently, more than 700 villas and townhouses have been handed over, forming a civilized community. Sub-areas such as River Park 2, Sun Harbor 2, Ever Green... are speeding up construction progress, in parallel with the completion of a series of utilities such as a large square, Aqua Marina marina, security center, shopping center, school, hospital, 5-star hotel, Aqua Sport Center, luxury clubhouse chain and unique culinary - entertainment complexes. With legal issues resolved and support from financial institutions, Aqua City is ready to enter a breakthrough development phase. Source: https://www.novaland.com.vn/tin-tuc-1/thong-tin-novaland/tin-du-an/cu-hich-phap-ly-aqua-city-doanh-nghiep-tang-niem-tin--novaland-no-luc-phuc-hoi