Industry News

REAL ESTATE MARKET EXPERIENCES SLOWER-THAN-EXPECTED RECOVERY, NOVALAND'S AUDITED PROFIT AFTER TAX IN THE FIRST-6-MONTH 2023 FINANCIAL REPORT DECLINES DUE TO PROVISION

REAL ESTATE MARKET EXPERIENCES SLOWER-THAN-EXPECTED RECOVERY, NOVALAND'S AUDITED PROFIT AFTER TAX IN THE FIRST-6-MONTH 2023 FINANCIAL REPORT DECLINES DUE TO PROVISION

After nearly a year full of difficulties and fluctuations in the economy, in the first 6 months of 2023, the domestic real estate market has witnessed several postive signs. However, the tightening of real estate credit policies by financial institutions and the slower-than-expected recovery in market confidence continue to be major barriers that make Novaland's liquidity not as stable as expected. This leads to a decrease in the Company's revenue and profits recorded in semi-annual financial reports.

Construction instant of 2 coastal roads through Binh Thuan

Started at the end of November 2020, contractors have started construction again after a period of social distancing.

The Prime Minister approved the investment policy on Bien Hoa - Vung Tau expressway

The Prime Minister has just approved the investment policy of the Bien Hoa - Vung Tau expressway construction investment project (phase 1) under the public-private partnership (PPP) method, with a total investment of VND 19,616 billion.

Phan Thiet - Dau Giay Expressway graduately disclosure, progress guarantee

The Phan Thiet - Dau Giay expressway still ensures the construction progress, as noted at the construction site in early September.
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Project news

AQUA CITY RECEIVES LEGAL BOOST: ENTERPRISE CONFIDENCE RISES - NOVALAND CHARGES FORWARD TO RECOVERY

AQUA CITY RECEIVES LEGAL BOOST: ENTERPRISE CONFIDENCE RISES - NOVALAND CHARGES FORWARD TO RECOVERY

On November 19, 2024, Mr. Vo Tan Duc, Chairman of the People’s Committee of Dong Nai Province, officially approved the local adjustment of the 1/10,000 master plan. This approval marks a significant milestone in resolving the legal issues faced by Novaland Group’s Aqua City project, which has been stymied for over two years. This is a result of the guidance provided by the Government, various ministries and departments, and serves as a legal boost that promotes confidence within the business community regarding the Government’s overall policy aimed at effectively resolving legal issues for delayed projects. Furthermore, it serves as a catalyst for Novaland to recover and accelerate its business activities following a difficult period.

NOVALAND DISCLOSED INFORMATION ON THE REVIEWED INTERIM FINANCIAL STATEMENTS FOR THE FIRST HALF OF 2024

Ho Chi Minh City, September 27, 2024 – No Va Land Investment Group Corporation (HoSE: NVL, “Novaland” or the “Group”) disclosed information on the Reviewed Interim Financial Statements for the first half of 2024.

NOVALAND SIGNS AGREEMENT FOR SOCIAL HOUSING DEVELOPMENT IN HO CHI MINH CITY AND SOUTHERN PROVINCES

Ho Chi Minh City – On May 22, 2024, Novaland Group signed an investment cooperation agreement to develop social housing projects with Hoang Quan Group. This initiative is part of Novaland’s efforts to achieve its goals and plans, thereby meeting the essential needs of the people, ensuring social welfare, increasing housing supply, and sustainably developing the real estate market.

NOVALAND’S 2024 ANNUAL GENERAL MEETING OF SHAREHOLDERS - "COMPLETE RESTRUCTURING THE MAJORITY OF DEBTS, FOCUS ON OVERCOMING LEGAL BOTTLENECKS, AND CONTINUE THE CONSTRUCTION OF KEY PROJECTS."

On April 25th, 2024, No Va Land Investment Group Corporation (HoSE: NVL, “Novaland”) held the 2024 Annual General Meeting of Shareholders. At the meeting, Novaland reported on its operations in 2023, approving business goals set for 2024 as well as presenting strategic roadmap in the upcoming years.
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