A glimpse of the Aqua City project (Photo: Quoc Hoang)
According to reports, the Aqua City cluster of projects by Novaland Group in Subdivision C4 includes: Aqua City Project, Aqua Riverside City, Aqua Marina City, and Aqua Waterfront City, as well as the high-end commercial and service urban area project in Cu Lao Phuoc Hung.
Subdivision C4, part of the former Bien Hoa City, spans approximately 1,500 hectares and accommodates numerous real estate projects. Among these, Novaland’s Aqua City stands out with its massive scale of 1,000 hectares.
The Aqua City cluster of projects is expected to contribute VND 23,000 billion to the state budget during the 2025-2028 period, with VND 500 billion expected in 2025 alone. This significant contribution is seen as a boost to the economic and social development of Dong Nai Province.
A subdivision within the Aqua City project (Photo: Quoc Hoang)
During the meeting, Novaland Group proposed to commence construction of technical infrastructure (including land leveling) and other works and projects immediately after obtaining approval for the detailed 1/500 planning and to carry out these activities concurrently with the process of the Department of Construction’s appraisal of the feasibility study report.
The investor commits to ensuring that the construction works comply with the appraised feasibility study report during the subsequent acceptance process.
To facilitate their business operations, the Novaland Group requested the People’s Committee to direct the departments and sectors to consider granting a sales license after the technical infrastructure is appraised and approved according to the detailed 1/500 planning and the approved project progress.
Speaking at the working session, the leaders of Dong Nai Province requested the departments and sectors to coordinate with the investor to review and address difficulties and obstacles related to land and investment policies to expedite the implementation of the projects.
Regarding the two proposals on infrastructure construction and sales licensing, the provincial leaders assigned the Department of Construction to take the lead in coordinating with relevant units to review the dossiers and compare them with current legal regulations on construction and real estate business to guide Novaland Group in complying with the law.
Some areas within Aqua City are currently being subdivided (Photo: Quoc Hoang)
It is known that the Aqua City project, with a scale of approximately 1,000 hectares, is developed by Novaland – considered the largest real estate project in the former Bien Hoa City and Dong Nai Province.
Aqua City is viewed as a pivotal and crucial project for Novaland. With a total investment of approximately USD 8 billion, the project boasts a prime location along the Dong Nai River, directly across from Vinhomes Grand Park.
However, since 2021, the entire project has been on hold due to planning issues and disagreements over social housing land allocation. This has resulted in hundreds of completed villas remaining unsold, and banks freezing credit packages worth thousands of billions of dong intended for the project’s construction.
In mid-June this year, the Chairman of the People’s Committee of the former Bien Hoa City signed and issued decisions approving adjustments to the detailed construction planning at a scale of 1/500 for the component projects of Aqua City, including Aqua City and Aqua Waterfront City.
On the same day, the assignment of the task for adjusting the planning of the high-end commercial and service urban area project in Cu Lao Phuoc Hung (Phoenix Subdivision) was also officially approved.
With the aforementioned approvals, the Aqua City project has completed its legal dossier in accordance with regulations, ensuring synchronization between planning levels. This will facilitate the project’s continuation.
“Novaland’s Billion-Dollar Revival: A Mountain of Debt Remains After Mr. Bui Thanh Nhon’s Promise of a Rebirth”
Amidst the positive legal and progress-related news, Novaland still grapples with a formidable debt of over VND 186,000 billion.
The Surprising Tale of Hanoi’s Hottest Project: Buyers Willing to Pay a Premium, Yet Real Estate Giant Stuns with a 45% Discount
“A recent property transaction has left many in awe as Sunshine Group offloaded a condo at Sunshine Legend City for a staggering 1.5 billion VND – a full billion less than what eager buyers were prepared to pay. This unexpected turn of events has the market buzzing with excitement and curiosity.”
Tax Evasion: Novaland Chairman’s Brother Faces Potential Exit Ban in the Next 30 Days
The Dong Nai Tax Department has announced that it will impose a temporary suspension of exit on Mr. Bui Dat Chuong, brother of Bui Thanh Nhon – Chairman of Novaland Group, if he fails to fulfill his tax obligations.
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.
