Restarting many projects with a series of exciting activities, Novaland gradually restores vitality to major cities

With the support of related parties, Novaland has completed the restructuring of most of its debts, with positive changes in the financial situation, project legality, construction progress and handover. As of June 30, 2024, Novaland 's total outstanding debt to lenders decreased by VND 8,122 billion, equivalent to 13%, compared to December 31, 2022; of which retail bond outstanding debt decreased by nearly VND 3,600 billion, accounting for 44.1% of the total outstanding debt reduced. In addition, nearly VND 20,500 billion of total outstanding debt from foreign loans and privately issued bonds of Novaland has also reached consensus on extension and has a handling plan; Notably, the restructuring of the international convertible bond package with a total value of 300 million USD, with the bond term extended to 2027, demonstrates Novaland's efforts in restructuring debt, restoring business operations and maximizing value for stakeholders. At the end of the second quarter of 2024, Novaland recorded a total consolidated revenue of VND 7,056 billion, including revenue from sales, service provision and financial activities. Profit after tax recorded a profit of nearly VND 345 billion. Net revenue from sales reached nearly VND 1,891 billion, an increase of 37% over the same period last year, recorded from the handover of projects such as: NovaWorld Phan Thiet, NovaWorld Ho Tram, Aqua City, Palm City, Lakeview City...; net revenue from service provision reached VND 355 billion. Currently, 14/16 projects in the Group's ongoing project clusters are continuing to be built with a total construction limit of VND 12,100 billion and are being disbursed in stages. In addition, with the spirit of "harmonious benefits - shared risks", many large contractors agree to construct in advance and receive payment after the products are sold to accompany Novaland in this difficult period. This helps Novaland's projects to be completed soon to hand over products to customers and have cash flow to pay off due debts; at the same time, contributing to changing the local appearance and avoiding wasting social resources. The total value of completed and handed over products as well as new sales is estimated at nearly VND 480,000 billion. At the central project cluster of Ho Chi Minh City, Novaland has made efforts to coordinate with the parties to resolve legal issues and achieved some positive results: The Grand Manhattan is awaiting the final conclusion after the Government and Ho Chi Minh City authorities paid attention to resolving legal issues. Tower B1 of the project has been topped out and Tower B2 is expected to be topped out in the second half of 2024, and will start handing over products from Q2/2025. More than 1,200 certificates of ownership for low-rise apartments, apartments... of the Sunrise Riverside project (Southern Ho Chi Minh City), Victoria Village (Thu Duc City) have been handed over to residents from June 2024 to the end of 2024. Particularly, 04 towers of the Victoria Village high-rise area are continuing to be built and completed, expected to be handed over in Q4/2025. From July 20, 2024, the last 2 towers G6 and E2 of Sunrise Riverside have started handing over apartments to residents.

Novaland continuously hands over pink books for projects in the center of Ho Chi Minh City

At Aqua City (Dong Nai), with the Government's attention and efforts to coordinate with relevant agencies to remove legal difficulties, it is expected that in early August 2024, the partial adjustment of the Bien Hoa City Master Plan for Area C4 and part of the urban area west of the Bien Hoa - Vung Tau Expressway will be completed. In September 2024, Cu Lao Phuoc Hung High-end Service and Trading Urban Area will restart leveling and construction of technical infrastructure when the planning steps are completed. Currently, the project has handed over 516 products in the subdivisions. Many subdivisions of the project are continuing to be completed and are expected to start handing over 891 more products in the last 6 months of 2024.

Aqua City completes the landscape, internal and external facilities, gradually completing the livable urban area in the East of Ho Chi Minh City.

At NovaWorld Ho Tram (Ba Ria - Vung Tau) , as of June 30, 2024, 381 products in The Tropicana and Wonderland phases have been handed over to customers and put into operation for rent with an occupancy rate of about 50% on weekdays and up to 90% on weekends. From now until the end of 2024, Habana Island, The Tropicana, Binh Chau Onsen... will continue to be built in series and hand over 243 products. In the coming time, more than 12 attractive amusement park categories will be put into operation such as Wonder Museum, Habana Water Park, Pirate Park, Beach Club, Wonder Water Park, Ocean Park... to enhance the experience for visitors, contributing to promoting local economic tourism.

At NovaWorld Ho Tram, the Contractor is simultaneously implementing many items, accelerating construction progress, expecting to put many utilities into operation in August 2024.

For NovaWorld Phan Thiet (Binh Thuan) , the project has completed the 1/500 detailed planning, with 1,111 products handed over, operating more than 500 villas and more than 100 villas completing interior construction to exploit business, meeting the needs of the peak season with room occupancy rate of up to more than 90%. With a variety of amenities such as 36-hole PGA golf course cluster, amusement park cluster; hotel - resort chain; chain of more than 10 beach restaurants... in just 2 months of June - July 2024, more than 800,000 visitors have fun, visited, and stayed during the Summer Fest festival series. This is a positive signal to realize the goal of welcoming 5 million visitors in 2024 of NovaWorld Phan Thiet, contributing significantly to the target of 9.5 million tourists of the province. In the near future, when the Land Law 2024 takes effect from August 1, 2024, the project will soon have specific land prices determined as the basis for calculating land rent, construction and handover of 820 products to residents in parallel with the completion and operation of a new chain of utilities such as: The Museum; Jack & Bean theme parks, Fantasy Park... in a total of nearly 40 entertainment and park items... invested here.

NovaWorld Phan Thiet project is currently the leading destination in Southern Vietnam, attracting many visitors for sightseeing and entertainment.

The positive results in 18 months of comprehensive restructuring, along with the goal of completing construction and handing over 2,600 products in the last 6 months of 2024, are a great effort by Novaland to fulfill its commitment to customers, restore investor confidence, and contribute to promoting sustainable market development. The Group's representative shared that there are still many difficulties in the market and challenges in liquidity and progress of legal completion. In order to recover business operations soon, it is necessary to thoroughly resolve the direction of the Government, agencies and departments as well as continued support from financial partners and customers in the coming time. With that companionship, Novaland is committed to continuing to focus on resolving legal issues and constructing key projects, as well as promoting financial restructuring, improving the investment portfolio, focusing on development plans and destination creation activities. Thereby bringing specific financial efficiency to maximize value for shareholders, customers and stakeholders, contributing to social security and the development of the country's tourism economy. Source: https://baophapluat.vn/bds/tai-khoi-dong-nhieu-du-an-cung-chuoi-hoat-dong-soi-noi-novaland-tung-buoc-phuc-hoi-lai-suc-song-cho-cac-dai-do-thi-post520229.html