On July 4th, the Can Tho City Department of Planning and Investment announced that it had sent a dispatch to Novaland Group regarding their proposal to invest in construction projects at the Eco-Tourism Urban Area project on Con Au islet. The Department requested that Novaland proceed with investments in line with the approved planning for the area, which has been allocated by the state for Novaland’s development.
Previously, on May 2nd, Novaland had proposed the construction of eight items at the Eco-Tourism Urban Area on Con Au islet: a protective embankment along Rach Khem canal, a natural bathing beach, 9 Dragons club, an outdoor square, a Bac Ba Phi stage, Dino Park, a village of traditional crafts and cakes, and stalls along the shore serving walk-in tourists.
The objectives of these proposals are to boost local tourism, attract investors and tourists, create job opportunities for the local workforce, and increase contributions to the state budget.
One notable item in the proposal is the village of traditional crafts and cakes, which Novaland had suggested establishing as a market for single women in March 2024. The Mekong Single Ladies Market would provide approximately 210 stalls for single women with vocational skills to start their businesses.
“Especially, by supporting single women in starting their businesses, we aim to contribute to local tourism development and reduce the issue of livelihood migration. We will organize a market named Mekong Single Ladies Market, which will sell specialties from the 13 provinces and cities of the Mekong Delta region,” stated Novaland in their document.
Novaland reports over VND 1,600 billion in profit for Q4/2023, bond debt reduced by VND 6,000 billion in one year.
In 2023, Novaland achieved a profit of over 800 billion VND, in contrast to the first half of the year when the company incurred a loss of over 1,000 billion VND.
“How does Novaland strive to make billions of profits?”
Currently, the NVL stock is experiencing margin cuts, which greatly limits its liquidity attraction. The return of positive profits is a necessary condition for the company’s stock to be granted margin again.
New developments at the prime 1,500m2 ‘golden land’ area in Ho Chi Minh City
Before the emergence of the real estate giant, the leadership of Seaprodex underwent significant changes. The prime location of the company’s land in Ho Chi Minh City has also experienced new legal developments.
