A Glimpse of NovaWorld Phan Thiet Project
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Specifically, over 381 hectares out of the total land area of more than 799 hectares of commercial and service land in the project have been approved for conversion from annual land lease payments to a one-time land lease payment for the entire lease term.
The People’s Committee of Binh Thuan Province has instructed relevant authorities to calculate the land rent to be paid for the area with a one-time land lease payment for the entire lease term and to grant the land use right certificate and ownership of assets attached to the land to Delta-Valley Binh Thuan Company Limited (the project investor) upon completion of financial obligations as regulated.
Earlier, on June 24, 2025, the People’s Committee of Binh Thuan Province issued a decision approving the adjustment of the investment policy for the NovaWorld Phan Thiet project. This adjustment primarily focused on updating the project’s objectives and implementation progress.
Accordingly, the project’s objectives have been refined to focus on investing in villas, commercial areas for sale and business (commercial and service land); investing in the construction of high-class hotels, public works (green trees, water surfaces, technical infrastructure, traffic roads, sports); and combining investment in golf courses, bungalows, hotels, restaurants, and diverse utility, entertainment, and sports recreational forms such as swimming pools, exploration, camping, surfing, and more to serve a variety of domestic and international customers.
In terms of implementation progress, the project is divided into two phases. Phase 1 (from Q3/2008 to Q1/2024) witnessed the completion of several components, including infrastructure in the resettlement area, and the acceptance and operation of key works such as the Movenpick Hotel, the amusement park, resorts, commercial streets, golf courses, and the sea square.
Phase 2 (from Q2/2024 to Q4/2028) will involve the investor continuing with compensation, support, resettlement, and land procedures; completing unfinished items; finalizing permits; and constructing the remaining works to complete the entire project by Q4/2028.
Binh Thuan Adjusts Investment Policy for NovaWorld Phan Thiet Project
– 11:45 28/06/2025
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