Representatives of Novaland Group and contractors held the groundbreaking ceremony of The Stella 2 subdivision of Aqua City Project.
No Va Real Estate Investment Group Joint Stock Company ( Novaland Group, stock code NVL) together with the Military Commercial Joint Stock Bank (Military Bank, stock code MBB) and partners have just signed a cooperation agreement to start the completion of technical infrastructure Phase 2 and continue to complete the construction of low-rise housing projects of the Aqua City Eco-Urban Area Project, Dong Nai Province. According to the signed agreement, the Military Bank will disburse a financial package of up to VND 1,100 billion to Aqua City Company Limited and direct contractors to synchronously complete the Aqua City Project. At the signing ceremony, the contractors committed to ensuring construction progress and construction quality, aiming to accompany Novaland Group in completing infrastructure, continuing to hand over houses, putting utilities into operation, and serving residents. The Aqua City project has a scale of 1,000 hectares in Bien Hoa City with products such as townhouses, shophouses, single and double villas. This is considered one of the "vital" projects for Novaland Group. Although construction has been started, the progress of this project has encountered many obstacles, especially legal problems related to the C4 Subdivision Planning of Bien Hoa City and the lack of agreement on the social housing land fund. Therefore, the Aqua City project is being implemented unfinished and many products are not eligible to sell future housing. Novaland Group said that the group has more than 70,000 billion VND to collect according to the progress from customers in this project, waiting for approval procedures to be resolved to continue maintaining cash flow for the development of the Aqua City project.
Comment (0)