On June 18, No Va Real Estate Group Investment Joint Stock Company ( Novaland ) announced that the Aqua City urban super project in Bien Hoa City, Dong Nai has completely resolved legal problems after more than 3 years of efforts.
According to information from the People's Committee of Bien Hoa City ( Dong Nai ), the Chairman of the City People's Committee has signed and issued Decisions No. 3782/QD-UBND and 3786/QD-UBND, approving local adjustments to the detailed construction planning at a scale of 1/500 for areas belonging to the Aqua City and Aqua Waterfront City projects.
These adjustments are made in accordance with Decision No. 1746/QD-UBND dated May 29, 2025 of the People's Committee of Dong Nai province on approving the local adjustment of the 1/5,000 scale zoning plan of Sub-area C4, under the general planning of Bien Hoa city. The scope of adjustment includes Long Hung commune and part of Tam Phuoc ward.
This move not only creates conditions for Aqua City to continue implementing projects on schedule, but also helps to ease the psychology of the real estate market, which is waiting for positive signals after a long period of stagnation.
This is considered an important step forward, not only demonstrating the perseverance of businesses but also recognizing the active role of the Government Working Group and local authorities in the process of supporting and removing obstacles for the business community.
A corner of Aqua City project in Bien Hoa city, Dong Nai.
Along with the decisions to adjust the 1/500 detailed planning for the Aqua City and Aqua Waterfront City projects, the task file to adjust the detailed planning for the high-end commercial service urban area of Cu Lao Phuoc Hung (Phoenix subdivision) was also approved under Decision No. 3781/QD-UBND on June 16. It is expected that the project to adjust the 1/500 detailed planning of this subdivision will continue to be approved at the end of June 2025.
Thus, the series of newly issued decisions have officially concluded all legal procedures for the Aqua City project, ensuring consistency between planning levels from subdivision C4 at a scale of 1/5,000 to the Bien Hoa City Master Plan at a scale of 1/10,000 (approved in November 2024).
According to Novaland, this is the basis for financial institutions to accelerate disbursement, support construction activities, infrastructure development and house handover at projects in the 2025-2026 period.
Currently, the total capital disbursed by banks for Aqua City is about 3,250 billion VND. In addition, a number of financial institutions have committed to providing additional credit packages worth more than 10,000 billion VND to continue accompanying Novaland in developing the project.
On the stock market, Novaland's NVL shares have recorded positive developments. In recent sessions, NVL has increased by about 30% within a month to over VND15,550/share. Some securities companies even issued a buy recommendation, with a target price of over VND19,000/share, reflecting the market's positive expectations for Novaland's recovery prospects thanks to legal and financial developments.
Source: https://nld.com.vn/du-an-song-con-cua-novaland-duoc-thao-go-hoan-toan-vuong-mac-phap-ly-196250618141109823.htm
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