Novaland commits to resolving all legal issues in Aqua City project

After legal problems, Novaland announced plans to complete the Aqua City project and affirmed that all legal problems have been resolved.

Chairman of Dong Nai Provincial People's Committee Vo Tan Duc speaks at the announcement of the plan to complete the Aqua City riverside ecological metropolis - Photo: A LOC

On November 15, Novaland Group held an event to announce the plan to complete the Aqua City riverside ecological metropolis (Long Hung ward, Dong Nai province).

At the announcement of Novaland's operations, Chairman of Dong Nai Provincial People's Committee Vo Tan Duc said that Dong Nai identified the private economy as one of the driving forces to promote growth, contributing significantly to the implementation of development goals according to Resolution 68 of the Central Government.

Evaluating the Aqua City project, Mr. Duc said that this is one of the projects that clearly demonstrates the spirit of cooperation between the State - enterprises - people. The removal of legal issues and the re-launch of the project not only helps businesses recover their operations, but also creates momentum for the development of local infrastructure, urban areas, services and tourism...

The head of Dong Nai government highly appreciated Novaland's spirit of cooperation, perseverance and responsibility in accompanying the locality to overcome difficulties, restore and develop the project...

Mr. Duong Van Bac, General Director of Novaland, said that over the past 3 years, the group as well as many businesses in the real estate industry have gone through an extremely difficult period.

The COVID-19 pandemic, economic recession and legal problems in some key projects have disrupted Aqua City investment activities, delayed progress, affecting customers, partners and shareholders.

The group received close attention and direction from central and local ministries and branches, removing each legal "bottleneck" for the project.

A corner of Aqua City project in Long Hung ward, Dong Nai province - Photo: A LOC

Up to now, Dong Nai Provincial People's Committee has issued decisions approving local adjustments to the 1/500 detailed planning for Aqua City's component projects.

"This marks a particularly important milestone - Aqua City officially completes all legal procedures according to the master plan, returning to the right development trajectory," said Mr. Bac.

In addition, banks and financial institutions have disbursed and committed to providing additional capital with a total construction limit of more than VND 18,000 billion, so that Novaland has a sustainable cash flow to continue implementing the project.

To date, more than 1,000 townhouses and villas have been handed over, hundreds of families have moved in, and nearly 2,400 properties in the project have been allowed to sign sales contracts. The entire Aqua City urban area is expected to be completed in 2026 and continue to hand over about 9,200 products in 2026 - 2027...

According to the roadmap, Aqua City will also hand over pink books to more than 700 residents and customers in 2026. In the period of 2025 - 2028, Aqua City will pay the state budget about 23,000 billion VND, contributing to promoting the socio-economic growth of Dong Nai province.

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A LOC

Source: https://tuoitre.vn/novaland-cam-ket-thao-go-toan-bo-vuong-mac-phap-ly-o-du-an-aqua-city-20251115132500462.htm