Novaland Set to Revive 110-Hectare Subdivision Within Its $8 Billion “Lifeline” Mega-City Project in Dong Nai

Aqua City LLC (a subsidiary of Novaland Group) is seeking public consultation on the environmental impact assessment for a 110-hectare urban development project in Long Hưng Ward, Đồng Nai Province.

With a total investment of over VND 9,000 billion, this 110-hectare project is part of the larger 305-hectare Aqua City urban area, which itself is a component of the 1,000-hectare Aqua City cluster developed by Novaland Group in Đồng Nai.

Geographically, the project is bordered by the Buông River to the east, Hương Lộ 2 Road and Aqua Dona Urban Area to the west, Aqua Riverside City to the south, and Aqua Waterfront City and Lái Nguyệt Canal to the north.

The project is divided into three phases. Phases 1 and 2 (2017-2025) include basic design documentation, design, procedures, land leveling, infrastructure construction, and housing units. Phase 3 (2025-2030) will involve the construction of remaining facilities, including housing, infrastructure, and auxiliary works for construction and business operations.

To date, nearly 1,000 low-rise houses, part of the transportation infrastructure, and land leveling have been completed. Construction activities across the project have currently been suspended.

Upon completion, the project will feature over 2,000 low-rise houses, nearly 2,600 apartments, commercial service areas, a marina, educational and healthcare facilities, catering to approximately 16,600 residents and workers.

Novaland Group’s Aqua City cluster in the C4 sub-zone includes: Aqua City (as mentioned above), Aqua Riverside City, Aqua Marina City, Aqua Waterfront City, and the Cù lao Phước Hưng High-End Commercial Service Urban Area Project.

Spanning 1,000 hectares, the Aqua City mega-project is considered the largest real estate development in the former Biên Hòa City and Đồng Nai Province.

The Aqua City cluster is projected to contribute VND 23,000 billion to the state budget between 2025 and 2028, with VND 500 billion expected in 2025 alone. This significant revenue is anticipated to boost Đồng Nai’s socio-economic growth.

Aqua City is a pivotal, mission-critical project for Novaland, with a total investment of approximately USD 8 billion. Strategically located along the Đồng Nai River, it faces Vinhomes Grand Park.

However, since 2021, the entire project has been halted due to planning issues and unresolved matters regarding social housing land allocation. This has prevented the sale of hundreds of completed villas, and credit packages worth trillions of dong for construction have been frozen by banks.

In mid-June, the Chairman of the People’s Committee of Biên Hòa City (former) signed and issued decisions approving the partial adjustment of the detailed construction plan at a 1/500 scale for sub-projects within the Aqua City urban area, including Aqua City and Aqua Waterfront City.

Simultaneously, the task file for adjusting the detailed 1/500 plan for the Cù lao Phước Hưng High-End Commercial Service Urban Area (Phoenix sub-zone) was officially approved on the same day.

These approved decisions have helped Aqua City complete its legal documentation in compliance with regulations, ensuring consistency across planning levels. This paves the way for the project to resume development.