According to the Tax Department of Dong Nai province, on September 5, the authority sent an announcement to Aqua City Company regarding the application of temporary suspension of exit measures.
Based on the taxpayer’s data on the management system at the Dong Nai Tax Department: As of July 31, 2025, Aqua City Company (Tax Code: 3600994616) owed more than VND 6.9 billion in taxes, fines, and late payment fees, of which the debt overdue for more than 90 days was over VND 4.6 billion.
Dong Nai Tax Department stated that if, after 30 days from the date of issuance of the announcement, Aqua City Company has not completed its tax obligations, the tax authority will apply the temporary suspension of exit measures according to regulations to Mr. Bui Dat Chuong – Chairman of the Members’ Council of the Company.
Aqua City Company is a subsidiary of Novaland Group and is the investor of the Aqua City project in Dong Nai province.
A corner of the Aqua City project (Photo: Quoc Hoang)
The Aqua City project has a scale of approximately 1,000 hectares, with Novaland as the investor – considered the largest real estate project in Bien Hoa City (formerly) and Dong Nai province.
Aqua City is considered a pivotal project and the key to Novaland’s survival. The project has a total investment of about $8 billion and enjoys a prime location along the Dong Nai River, opposite Vinhomes Grand Park.
However, since 2021, the entire project has been halted due to planning issues and disagreements over social housing land allocation. This has prevented the sale of hundreds of completed villas, and banks have frozen loans amounting to thousands of billion VND for construction.
In mid-June this year, the Chairman of the People’s Committee of Bien Hoa City (formerly) signed and issued decisions on approving the adjustment of detailed planning at a scale of 1/500 for the component projects of Aqua City, including: Aqua City Urban Area and Aqua Waterfront City.
At the same time, the task assignment for adjusting the detailed planning of the Cu Lao Phuoc Hung High-end Commercial Service Urban Area (Phoenix subdivision) was also officially approved on the same day.
With the above-mentioned approvals, the Aqua City project has completed its legal dossier in accordance with regulations, ensuring synchronization between planning levels. This will facilitate the continuation of the project.
Regarding the Aqua City project, on September 5, the leaders of Dong Nai province chaired a meeting with Novaland Group to review the progress and address difficulties in the cluster of projects in Aqua City.
According to the report, the cluster of Aqua City projects of Novaland Group in subdivision C4 includes: Aqua City, Aqua Riverside City, Aqua Marina City, Aqua Waterfront City, and the High-end Commercial Service Urban Area project in Cu Lao Phuoc Hung.
The Aqua City cluster is expected to contribute VND 23,000 billion to the state budget in the period of 2025-2028, with VND 500 billion in 2025 alone. This is considered a significant source of revenue, contributing to the socio-economic growth of Dong Nai province.
Some land plots in Aqua City are currently being divided into residential plots (Photo: Quoc Hoang)
At the meeting, Novaland Group proposed to implement the construction of technical infrastructure (including land leveling) and projects immediately after the approval of the detailed planning at a scale of 1/500 and to carry out these tasks in parallel with the process of the Department of Construction reviewing and approving the feasibility study report.
The investor committed to ensuring that the construction works comply with the approved feasibility study report during the subsequent acceptance process.
To facilitate their business, Novaland Group requested the People’s Committee of Dong Nai province to direct the departments and sectors to consider granting a sales license after the acceptance of technical infrastructure in accordance with the detailed planning at a scale of 1/500 and the approved progress of the project.
Speaking at the meeting, the leaders of Dong Nai province requested the departments and sectors to coordinate with the investor to review and resolve difficulties and obstacles related to land and investment policies to speed up the implementation of the projects.
Regarding the two proposals on implementing technical infrastructure construction and granting a sales license, the provincial leader assigned the Department of Construction to take the lead, coordinate with relevant units, review the dossiers, and guide Novaland Group to implement them in accordance with the current laws and regulations on construction and real estate business.
The Billionaire’s Speed: Vingroup’s $1.7 Billion Mega City Project Kicks Off in Bac Ninh.
The northern province of Bac Ninh is witnessing a land retrieval drive for the Northwest Bac Ninh City New Urban Area (Zone 1) project. Meanwhile, the investor has completed the listing and gathered opinions on the detailed 1:500 planning.
The Island Cityscape: An Urban Oasis Adjacent to Sun Group’s 72,000 Billion VND Project, Witnessing Land Prices Soar Tenfold.
Kim Quy Island enjoys an exclusive location, offering both seclusion and convenience. Nestled amidst surrounding waters, it is also remarkably accessible, with major landmarks such as the Tan Van intersection, the Hiep Hoa urban area project, and the new Dong Nai Political-Administrative Center all within a 3 km radius.
“Land Conversion Premiums are Sky-High: HoREA Proposes Strict Regulations and Lower Fees”
The proposal put forward by HoREA suggests that the government implement a “strict regulation” regarding the reduction of land use fees when converting agricultural land to residential land. They recommend a flat rate of 20% within the land allocation limit and 30% for areas exceeding this limit.
The Hauntingly Good Property Market: Buyers Seek Out Spooky Season Deals
In recent years, there has been a shift in perception regarding property purchases during the seventh month of the lunar calendar. This is largely due to the fact that investors often offer more attractive incentives and promotions during this period.
The Haunting Headline: “Real Estate Market Defies Superstition: Transactions Continue Despite Ghost Month”
“The real estate market has historically witnessed a lull during the so-called “ghost month.” However, modern investors are shifting their focus towards legal aspects, project progress, and developer incentives rather than subscribing to traditional beliefs. This shift in mindset is a testament to the evolving nature of the industry, where informed decisions and tangible factors take precedence.”
