The cluster of projects in the Ben Van Don area (including, from left to right, Saigon Royal, The Tresor, and Icon 56) are developed by Novaland.
|
The project at 39-39B Ben Van Don is also known by its commercial name, The Tresor, and is developed by Novaland.
The resolution, effective from April 1, 2025, includes specific mechanisms and policies to address challenges and obstacles faced by projects and land issues mentioned in inspection and audit conclusions and court rulings, not only in Ho Chi Minh City but also in Da Nang and Khanh Hoa Province.
Regarding The Tresor, the National Assembly has permitted the continued use of land and determined the land price, as well as the calculation of land use fees and land rent. This project was mentioned in Inspection Conclusion No. 757/KL-TTCP dated May 13, 2021, issued by the Government Inspectorate.
Thus, the investor is allowed to “continue using the land to implement the project after administrative and criminal handling of individuals and organizations with violations and wrongdoings, remedying economic violations, and recovering material interests due to violations according to effective court rulings.”
On the stock exchange, after surging to the ceiling price, NVL shares cooled down to VND10,000 per share, up 5.8% as of 11:16 a.m. on February 20. Trading liquidity exploded with more than 18.5 million shares matched.
Located in the prime District 4, The Tresor is a project developed on a 6,200-square-meter land plot, which was related to violations in the management of public assets and caused losses. This led to the prosecution of former senior leaders at the Vietnam Rubber Industry Group (HOSE: GVR) in May 2024.
The chairman of another listed company, Ms. Nguyen Thi Nhu Loan, who was then the General Director of Quoc Cuong Gia Lai (HOSE: QCG), was also arrested in July 2024 on charges of violating the law related to the transfer of this project in the past. By the end of last year, Ms. Loan was released pending investigation by the authorities.
As for Novaland, this real estate developer was the final transferee of the land plot at 39-39B Ben Van Don and subsequently invested in the development of The Tresor, with construction taking place between 2014 and 2017.
Thua Van
– 11:30 20/02/2025
“The Novaland Niggle: Delayed Payments on Bonds Totaling Over VND 117 Billion”
Novaland has announced that it is unable to repay the principal and interest on the NVLH2123007 bond tranche due on January 23, 2025, as it has not been able to secure the necessary funds.
The Auditors’ Report: A New Chapter for Quốc Cường Gia Lai.
National Power Gia Lai Joint Stock Company has decided to terminate its contract with DFK Limited Company and has chosen UHY Audit and Consulting Limited Company as the independent auditor for its 2024 financial report.
The Ultimate Real Estate Venture: Novaland’s $470 Million Prime Project in Thu Duc City Gets Greenlit After Four Years
The project’s new owner boasts an impressive business with a former VPBank member at its helm. In a surprising turn of events, the company has reported substantial profits, but its debt consumes a staggering 93% of its total assets. This revelation raises questions and intrigue, leaving us wanting to know more about this intriguing business venture and its future prospects.
The Alluring Appeal of Quốc Cường Gia Lai’s Stocks: A Tale of Resilience and Investor Confidence
Quantum Corporation (QCG) witnessed a surge in its share price during the morning trading session on November 26, reaching the upper limit at VND 11,750 per share.
Unblocking the Years-Long Stalled Project: Real Estate Giants Novaland, Dat Xanh, Hoang Quan, Nam Bay Bay and More Are Back with a Bang
Aqua City, Gem Riverside and NBB Garden III have been stagnant for years, but now there’s a glimmer of hope as legal hurdles are finally being cleared. Could this be the breakthrough these real estate giants have been waiting for?
