Dong Nai Province’s Department of Construction has issued a document on the conditions for future real estate to be put up for trading for a number of low-rise houses in a part of Zone 2 of the Aqua Waterfront City Urban Area project, developed by Dalat Valley Real Estate Company Limited, a subsidiary of Novaland.
Accordingly, the Department of Construction confirmed that 98 future houses in a part of Zone 2 of the Aqua Waterfront City project meet the conditions for trading as prescribed.
Before signing contracts for the sale and purchase or lease-purchase of these 98 future houses, Dalat Valley Real Estate Company Limited must obtain a guarantee from a commercial bank with sufficient capacity to fulfill the financial obligations of the project owner to customers.
In case the company does not sell or lease-purchase the future houses but mortgages them, the sale or lease-purchase of these houses after the mortgage can only be done when the conditions are met and there is a written notice from the Department of Construction as prescribed. The project owner must inform customers of these conditions.
Aqua Waterfront City Urban Area project
The Aqua Waterfront City Urban Area project covers more than 366 hectares and is divided into two investment phases from 2019-2024 and from 2024-2027. The project offers a total of 2,701 products, including detached and semi-detached villas, shophouses, and commercial townhouses. The company announced this project in Q1 2020 and expected to hand over the properties in Q4 2023 according to the plan announced earlier this year.
Aqua Waterfront City is part of the larger Aqua City project in Dong Nai province. Recently, on August 2, the Dong Nai Province Department of Construction allowed the opening of sales for 21 residential lots belonging to a component project of Aqua City (Aqua Riverside City).
Updating on the progress of the Aqua City project, Mr. Duong Van Bac, Chief Financial Officer (CFO), said that Aqua City has nine subdivisions, six of which are awaiting new planning from Bien Hoa city.
It is expected that in August, there will be a detailed plan at a scale of 1/10,000 for subdivision C4, and in October, there will be an adjustment to the 1/500 plan before continuing with other legal procedures. The remaining subdivisions, including Aqua Riverside (81ha), Aqua Waterfront (91ha), and Aqua City (112ha), have completed 65% of the legal procedures and are resuming construction.
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