Another Novaland project has had its legal problems resolved.

(NLDO)- Authorities have completed the legal procedures at Novaland's $5 billion NovaWorld Phan Thiet project.

On June 27, the People's Committee of Binh Thuan province issued a decision allowing the conversion of land use form for the Ocean Valley Tourism Complex project in Tien Thanh commune, Phan Thiet city, Binh Thuan province (NovaWorld Phan Thiet project). This is a project of No Va Real Estate Investment Group Corporation (Novaland) that has been resolved after many years of legal entanglement.

The decision clearly states that the area of ^{​​3,810,986.7m2} out of the total area of ​​7,994,306.5m2 ^of commercial service land belonging to the project is allowed to change from annual land rental payment to one-time land rental payment for the entire rental period. The People's Committee of Binh Thuan province assigned relevant authorities to calculate the land rental payable for the land rental area with one-time land rental payment for the entire rental period; at the same time, hand over the certificate of land use rights and ownership of assets attached to the land to Delta - Valley Binh Thuan Company Limited (project investor) which has fulfilled its financial obligations as prescribed.

NovaWorld Phan Thiet project has completed key legal steps.

Previously, on June 24, the People's Committee of Binh Thuan province also issued a decision approving the adjustment of the investment policy for the NovaWorld Phan Thiet project. This adjustment focuses on updating the project's goals and progress.

Thus, with the newly approved decisions, the key legal steps of the NovaWorld Phan Thiet project have been completed, which is a prerequisite for Novaland to continue working with credit institutions to provide capital for the project to continue to be implemented, soon put into synchronous operation, contributing to promoting tourism and socio-economic development, towards the target of double-digit growth of the locality.

Currently, for the NovaWorld Phan Thiet project, banks have provided credit packages of up to VND 7,558 billion and are disbursing according to schedule. At the same time, some financial institutions have also committed to providing other loan packages for Novaland to continue implementing the project.

As of June 2025, NovaWorld Phan Thiet has officially handed over 1,500 villas and townhouses to customers. Of these, more than 750 villas have been completed and put into operation for rent.

Source: https://nld.com.vn/them-1-du-an-cua-novaland-duoc-go-vuong-phap-ly-196250627181747001.htm