Business

Novaland to invest more in satellite urban, resort properties

Giant property developer Novaland Investment Group Corporation (NVL) owned more than 4,894 ha of land bank by the end of 2020, with 1,394 ha in central Ho Chi Minh City and satellite urban areas, and 3,500 ha for resort projects.
Novaland to invest more in satellite urban, resort properties ảnh 1Illustrative photo (Source: VNA)
Hanoi (VNA) – Giant property developerNovaland Investment Group Corporation (NVL) owned more than 4,894 ha of landbank by the end of 2020, with 1,394 ha in central Ho Chi Minh City and satelliteurban areas, and 3,500 ha for resort projects.  

The group said it will continue to invest in mid-andhigh-end segments, covering central HCM City and satellite urban areas, andresort-tourism properties.

Its leaders expect that the upgraded transportinfrastructure would give a boost to Novaland to implement such satelliteurban and resort projects.

According to a report, Novaland’s net revenue was27.49 trillion VND (1.19 billion USD) and after-tax profit was 4.1 trillionVND in 2020, up 447 percent and 5 percent year-on-year, respectively.

In the first quarter of this year, its net revenuestood at 4.5 trillion VND, a rise of 158 percent from the same period lastyear, mainly from such projects as Saigon Royal, Victoria Village, Aqua City,NovaHills Mui Ne, NovaWorld Phan Thiet and others in central HCM City.

The group’s net profit reached 701 billion VND in thethree months, up 132 percent year-on-year.

In 2021, Novaland aims to sell 10,000 products, up 40percent from the previous year, mainly projects in HCM City’s outlying areas,and resort properties./.

VNA
#Novaland Investment Group Corporation #net revenue #land bank #satellite urban areas #resort projects #Vietnam #VietnamPlus #Vietnam news
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