For the first nine months of the year, Novaland 's consolidated total revenue, including sales and service fees, was VND 2,740 billion, while recording a loss of VND 958 billion. Of this, sales revenue reached nearly VND 2,292 billion, generated from handovers at projects such as NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Palm City, Saigon Royal, and other central real estate projects; revenue from service provision reached VND 449 billion.
As of September 30, 2023, inventory was recorded at over VND 137,594 billion. Of this, the value of land and projects under construction accounted for nearly 92.2% (equivalent to nearly VND 126,818 billion); the remainder consisted of completed real estate and real estate goods, including completed real estate awaiting handover to customers.
In the third quarter of 2023, Novaland's financial report also recorded VND 2,230 billion in financial revenue, mainly from the sale of assets to restructure debt.
Also in the third quarter of 2023, alongside corporate restructuring activities, many of the Group's projects received attention in resolving legal obstacles.
NovaWorld Phan Thiet is a favorite destination during the September 2nd holiday, attracting hundreds of thousands of visitors for sightseeing and experiences.
For example, in August 2023, the Department of Construction of Dong Nai province issued a document allowing the sale of future-formed real estate properties, specifically low-rise houses in subdivisions I and V of the Aqua City project (Dong Nai), permitting continued investment, construction, and sales for items consistent with the approved detailed planning.
The NovaWorld Ho Tram project ( in Ba Ria - Vung Tau province) is also receiving strong direction from the provincial People's Committee to resolve difficulties and expedite legal procedures. Currently, most obstacles have been addressed and some procedures have been completed. The project has already attracted tens of thousands of tourists to stay and experience the area, and the villas are being rented out with an occupancy rate of approximately 50% on weekdays and 70-85% on weekends.
Tourists visit and experience NovaWorld Ho Tram.
NovaWorld Phan Thiet (Binh Thuan province) has completed the adjustment of the 1/500 detailed planning for all project components. Previously, the Prime Minister's Task Force, chaired by the Deputy Minister of Construction, concluded that the investment policy remains unchanged according to Decision No. 934 issued by the People's Committee of Binh Thuan province in April 2019. Furthermore, if the project requires adjustment of the investment policy during implementation, the investor will make the adjustments according to regulations. In addition, Binh Thuan province is also proceeding with the next legal steps to adjust the land lease payment method from annual to one-time payment. Currently, the project has put into operation a diverse range of amenities, meeting all needs from accommodation, dining, sports, and entertainment.
During the recent September 2nd holiday season, NovaWorld Phan Thiet continued to be among the top destinations, attracting hundreds of thousands of visitors who came to explore and experience many exciting activities such as discovering the 7-hectare Wonderland Water Park with its many fun games, enjoying the YoYo Music Festival and a spectacular fireworks display at Miami Bikini Beach…
NovaWorld Phan Thiet is also focusing on developing, completing, and putting into operation additional amenities to help the locality prepare for the year-end tourism boom and welcome millions of tourists during the Lunar New Year holiday this year. These include a cluster of beachfront restaurants with diverse culinary brands, resorts with over 1,500 rooms, and new and attractive tourist and entertainment destinations.
Following positive news regarding the projects, secondary market activity has also been vibrant in the last three months, recording 85 transactions, mostly at NovaWorld Phan Thiet.
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