The People’s Committee of Lam Dong Province has recently granted an investment approval for the Ocean Valley Integrated Tourism Complex (NovaWorld Phan Thiet), developed by Delta – Valley Binh Thuan LLC, a subsidiary of Novaland Group.
Prior to provincial consolidation, the NovaWorld Phan Thiet project, located in Tien Thanh Commune, Phan Thiet City, was granted an investment certificate by the former Binh Thuan Province in 2009. Spanning over 986 hectares, the project boasts a total investment of approximately $5 billion.
Since its initial approval, the project has undergone several adjustments during implementation. The most recent update occurred in June 2025, focusing on three key areas: reconfirming the investor, updating objectives, and revising the project timeline.
The revised objectives aim to develop a large-scale tourism, hospitality, and commercial complex, featuring luxury villas, high-end hotels, a golf course, a seaside plaza, a water park, restaurants, sports facilities, and entertainment amenities such as swimming pools, camping areas, and surfing spots. These offerings cater to the diverse needs of both domestic and international tourists.
The project is divided into two phases. Phase 1 (2008–2024) has completed several components, including infrastructure for the resettlement area, the Movenpick Hotel, an entertainment park, a golf course, villas, and a seaside plaza. Phase 2 (from Q2/2024 to Q4/2028) will focus on land compensation, site clearance, completing the remaining sub-zones, and launching the entire project into operation.
The Binh Thuan Provincial People’s Committee requires the investor to fully comply with legal regulations related to planning, land, investment, construction, environment, real estate, and tourism. Notably, the project is prohibited from engaging in residential property sales and is only permitted to develop commercial, service, and tourism accommodation facilities that meet regulatory conditions.
Since 2023, the project has been largely on hold due to legal challenges. As of June 2025, NovaWorld Phan Thiet has handed over 1,500 villas and townhouses, with over 750 villas completed and operational for rental purposes.
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