Novaland Group (NVL) speeds up product delivery at NovaWorld Phan Thiet project

Novaland Group (stock code NVL) has just announced that it has begun completing the international standard 5-star hotel at the NovaWorld Phan Thiet project; at the same time, handing over products in a series of subdivisions of this project.

Novaland Group and Hoa Binh Construction Group jointly completed the 5-star Novotel hotel project at NovaWorld Phan Thiet project.

No Va Real Estate Investment Group Joint Stock Company ( Novaland Group, stock code NVL - HoSE) and Hoa Binh Construction Group (stock code HBC) have just held a groundbreaking ceremony to complete the Novotel Hotel Project at the NovaWorld Phan Thiet project, Phan Thiet City, Binh Thuan Province. Speaking at the ceremony, representatives of Novaland Group and representatives of Hoa Binh Group committed to accompany and focus resources to ensure construction progress and quality, aiming to put the Novotel Hotel project into operation in the first quarter of 2025. With a scale of 10 floors on an area of ​​0.27 hectares, providing 250 high-class rooms meeting international 5-star standards, the Novotel Hotel project is one of the important utility items of the NovaWorld Phan Thiet project. A representative of Novaland Group also said that the appearance of the Novotel brand and a chain of other high-end hotels and resorts that have been and are preparing to be put into operation at the NovaWorld Phan Thiet project will help complete the high-end accommodation chain, ready to welcome MICE groups, travel and tourism companies, and domestic and foreign businesses.

Novaland Group is accelerating product handover in a series of subdivisions of the NovaWorld Phan Thiet project.

With a scale of nearly 1,000 hectares and a total investment of up to 5 billion USD, the NovaWorld Phan Thiet project is considered one of the "vital" projects of Novaland Group. With the support of authorities in removing legal obstacles, the Military Commercial Joint Stock Bank (stock code MBB) and contractors in arranging capital, Novaland Group has restarted the NovaWorld Phan Thiet project since May 2023. Novaland Group said that up to now, a series of main utilities at the NovaWorld Phan Thiet project have been put into operation, some areas have an occupancy rate of nearly 90% such as the Festival Street commercial street, and the group is speeding up the handover of real estate products in 8 subdivisions of the project.

Price movements and trading volume of NVL shares of Novaland Group in the past 12 months. (Source: TradingView)

Currently, Novaland Group is handing over resort villas in the Florida subdivision and it is expected that from the end of June, villa products in the PGA Golf Villas subdivision will be handed over. Regarding the legal problems at the NovaWorld Phan Thiet project, a representative of Novaland Group emphasized that the project is on the priority list for legal solutions of ministries, branches and local authorities and expects that the legal problems will soon be resolved "from the root", creating conditions to promote the implementation of the project. Source: https://tapchicongthuong.vn/tap-doan-novaland--nvl--day-manh-ban-giao-san-pham-tai-du-an-novaworld-phan-thiet-122561.htm