Aqua City Corporation (Aqua City) has just announced some financial indicators for the year of 2023 with a loss of VND 359 billion, while in the same period of last year it only lost VND 135 billion.
As of December 31, 2023, Aqua City’s equity reached VND 1,131 billion. The debt-to-equity ratio is at 10.09 times, corresponding to about VND 11,400 billion of debt to be paid. In which, the outstanding bond debt is about VND 2,400 billion. Thus, Aqua City’s total assets are estimated to reach more than VND 12,500 billion.
According to information from HNX, Aqua City has issued a total of 8 bond lots with a total value of VND 4,600 billion. To date, only VND 2,400 billion of these bonds of the enterprise are still in circulation. The interest rate of each bond lot is 10%/year.
Aqua City is known as a subsidiary of Novaland Real Estate Group (Novaland – stock code NVL). Aqua City is also the investor of Aqua City project. The Aqua City project with a scale of 1,000 ha is designed as an intelligent urban area, invested by Aqua City Company Limited with the number of future housing units being 752 units.
In November 2023, the Department of Construction of Dong Nai province issued Document No. 4206/SXD-QLN-TTBDS on the fact that 752 low-rise houses belonging to part of Zone I and V, Aqua City project, Long Hung commune, Bien Hoa city met the conditions to be put into business.
Accordingly, after the inspection, the Dong Nai Department of Construction recorded that 752 future housing units (within the scope of 29 land use right certificates in the project) had completed all project records; completed the construction of technical infrastructure works. Based on legal regulations, the Department of Construction issued a notice confirming that the conditions for future real estate to be put into business were sufficient for 752 houses in Zone I and V of the Aqua City project.
