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Ho Chi Minh City
Tuesday, September 27, 2022

NVL set to launch 100,000 property products worth VND600t by 2025

The Saigon Times

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HCMC – No Va Land Investment Group Corporation (NVL) plans to launch 100,000 property products into the local market during the 2021-2025 period, with a total value of an estimated VND600 trillion.

The estimated value could be higher if infrastructure facilities once being completed bring extra value to projects, residents, investors, as well as visitors to NovaWorld urban areas, said an NVL representative at a press briefing held yesterday, March 16.

After five years of being listed on the Hochiminh Stock Exchange, the land fund of Novaland has increased sharply from 668 hectares of land in HCMC to 2,700 hectares in 2018, and to nearly 10,600 hectares by the end of 2021.

NVL is developing three key projects including Aqua City, NovaWorld Phan Thiet, and NovaWorld Ho Tram that are expected to generate profits of VND36 trillion, VND31 trillion, and VND10 trillion, respectively, after they are put into service in 2023.

In 2022, Novaland has continued to seek more investment opportunities in HCMC, including making efforts to become the developer of the Grand Sentosa project in the outlying district of Nha Be this month.

Besides its under-construction key projects, Novaland this year will introduce around 15,000 products, including large-scale tourism and urban projects—NovaWorld Mui Ne, NovaWorld Nha Trang, and NovaWorld Lang Co.

Closing the trading session today, March 17, NVL dropped 1.03% to VND76,600.

As for the benchmark VN-Index, it improved 2.01 points, or 0.14% over the session earlier at 1,461.34, with 239 winners and 185 losers. Turnover on the southern bourse inched up 12% in volume and 14% in value against the previous session at over 717 million shares and over VND21.3 trillion.

On the northern bourse, the HNX-Index slowed down in the afternoon phase and almost closed unchanged at 446,16 points, down 0.02 point, with 131 stocks rising and 100 others declining.

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