Novaland Group (NVL) plans to hand over products at two high-end projects from the second half of this year.

Novaland Group (stock code NVL) has just updated the progress of a series of key real estate projects. Notably, the group expects to begin handing over products at two high-end projects in the second half of this year. Nova Real Estate Investment Group Joint Stock Company (Novaland Group, stock code NVL - HoSE) has just updated the progress of a series of key projects being implemented this year. For The Grand Manhattan project (0.14 hectares, Ho Chi Minh City), as of now, Tower B1 has completed the concrete pouring for the elevator core up to the 38th floor and is proceeding with the concrete pouring for the 39th floor. This project consists of three interconnected towers, strategically located in the heart of District 1. Upon completion, the project will provide the market with more than 1,000 high-end apartments. At the 2023 Annual General Meeting of Shareholders, Novaland Group's leadership announced that The Grand Manhattan project has a Gross Development Value (GDV) of US$652 million. Novaland Group also stated that it is working closely with the project's general contractor, Ricons Construction Investment Group Joint Stock Company (Ricons Group), aiming to hand over homes to customers in Q4 2024. Regarding the Victoria Village project (4.3 hectares, Thu Duc City), as of now, in Tower 1, the column and wall structure has been constructed up to the 20th floor; in Towers 2 and 3, the column and wall structure has been constructed up to the 23rd and 24th floors; and in Tower 4, the structure and concrete slab of the 21st floor have been completed. Simultaneously, construction of boundary walls on the towers is underway.

With the support of contractor Ricons, Novaland Group's Victoria Village project was restarted in mid-May 2023.

At the end of January, Ricons Group, the main contractor for the project, held the topping-out ceremony for Tower 3. Towers 1, 2, and 4 are also expected to be topped out in the near future, with handover scheduled for Q3 2024, according to Novaland Group. The Victoria Village project comprises a total of 1,208 commercial apartments and townhouses/villas. The project boasts a prime location with four street frontages on major roads in Thu Duc City, just 3 km from the center of District 1. According to several real estate consulting firms, the estimated selling price of apartments in Victoria Village ranges from US$2,500 to US$3,500 per square meter. Novaland Group started this project in Q2 2017 and handed over the low-rise section with 92 units in Q3 2019. For the Sunrise Riverside project (0.39 hectares, Ho Chi Minh City), the exterior of tower G6 is almost complete, and technical infrastructure installation is underway up to the 24th floor. Meanwhile, at tower E2, technical items have been constructed up to the 16th-18th floors. According to our research, the Sunrise Riverside project comprises 8 towers with 2,200 apartments, located adjacent to the South Saigon urban area. Novaland Group has not yet announced a handover date for this project. In addition, Novaland Group stated that it is coordinating with a consulting firm to finalize the 1/2,000 scale zoning plan for the Lien Khuong - Prenn urban area project (nearly 3,000 hectares) to submit to the Lam Dong Provincial People's Committee as required. The corporation is also actively working with Lam Dong province to implement the Lam Vien Plateau integrated tourism, resort, and entertainment complex project, with a research scale of approximately 30,000 hectares. Source: https://tapchicongthuong.vn/tap-doan-novaland--nvl--du-kien-ban-giao-san-pham-tai-2-du-an-cao-cap-tu-nua-cuoi-nam-nay-117381.htm