Novaland Group's buildings. (Source: topbds.net)
 
HCM City (VNA) – Property developer Novaland Group now has a capitalisation value of nearly 2 billion USD, making it one of the 10 biggest listed firms on the Ho Chi Minh Stock Exchange in terms of market capitalisation.

According to the group’s financial report released on April 21, Novaland earned over 1.9 trillion VND (84 million USD) in net revenues in the first quarter of 2017, up 164 percent from the same period last year, bringing its total asset value to over 37.7 trillion VND (1.66 billion USD). Its net revenues are expected to hit 17.5 trillion VND (772 million USD) in 2017.

Novaland plans to ramp up mergers and acquisitions (M&A) activities this year in strategic projects in Ho Chi Minh City, Can Tho, Da Nang and Ba Ria - Vung Tau.

The group has been developing 40 projects of different kinds such as villas, shop-houses, residential apartments and commercial buildings. Nine of them have been  completed while ten others will be finished this year.-VNA