Novaland Group (NVL) is accelerating product handover at the 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; and is simultaneously handing over products in several subdivisions of this project.

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

Novaland Investment Group Joint Stock Company ( Novaland Group, stock code NVL - HoSE) and Hoa Binh Construction Group (stock code HBC) recently held a groundbreaking ceremony for the Novotel Hotel project at the NovaWorld Phan Thiet project in Phan Thiet City, Binh Thuan Province. Speaking at the ceremony, representatives from Novaland Group and Hoa Binh Construction Group pledged to work together, focusing resources to ensure the progress and quality of construction, aiming for the Novotel Hotel project to be operational 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 amenities of the NovaWorld Phan Thiet project. Representatives from Novaland Group also stated that the presence of the Novotel brand, along with other high-end hotels and resorts that are already operational or being prepared for operation at the NovaWorld Phan Thiet project, will help complete the chain of high-end accommodations, ready to welcome MICE groups, travel companies, and domestic and international businesses.

Novaland Group is accelerating the handover of products in several subdivisions of the NovaWorld Phan Thiet project.

Spanning nearly 1,000 hectares with a total investment of up to US$5 billion, the NovaWorld Phan Thiet project is considered one of the "vital" projects of Novaland Group. With the support of relevant authorities in resolving legal issues, the Military Commercial Joint Stock Bank (MBB), and contractors in arranging funding, Novaland Group restarted the NovaWorld Phan Thiet project in May 2023. Novaland Group stated that, as of now, a number of key amenities at the NovaWorld Phan Thiet project are operational, with some areas reaching nearly 90% occupancy, such as the Festival Street commercial area. The group is accelerating the handover of real estate products in the project's eight subdivisions.

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

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