Lakeview City Project: Land Price Finalized
According to the October 2025 report on resolving bottlenecks in key projects, the Ho Chi Minh City Department of Agriculture and Environment has submitted the land price appraisal for the 30.1-hectare Nam Rach Chiec project (commercially known as Lakeview City). The Land Price Appraisal Council held a review meeting on October 24, 2025.
Previously, under National Assembly Resolution No. 170/2024/QH15 and Government Decree No. 76/2025/NĐ-CP effective from April 1, 2025, the Lakeview City project officially resolved land-use fee issues.
Specifically, for the land swap area corresponding to the investor’s expenditure on the 30.2-hectare Binh Khanh ward plot (audited and verified compensation and construction costs), the land price determination date is when the land recovery and compensation for the 30.2-hectare Binh Khanh plot were completed (2008).
For the area where land-use fees have not been paid, the land price determination date is when the competent state agency issued the land allocation decision for the 30.1-hectare Nam Rach Chiec plot (2017).
Consequently, the total land rent and land-use fees payable for the Lakeview City project, initially set at nearly VND 5,176 billion based on the tax authority’s January 8, 2021 notice, will be recalculated. This forms the basis for Novaland to expedite land ownership certificates for residents.
Notably, the VND 4,369 billion provision for the Lakeview City project in Novaland’s 2024 reviewed financial report will be adjusted and reversed when conditions are met, according to the auditor’s independent opinion. Novaland representatives stated this will provide the corporation with robust financial resources to execute upcoming business plans and fulfill obligations to stakeholders.
Lakeview City Project by Novaland: Land Price Finalized
Lakeview City is among the first projects in Ho Chi Minh City to benefit from the special mechanism under Resolution 170/2024/QH15, demonstrating the city’s determination to unlock land resources and drive economic growth.
Beyond Lakeview City, for projects resolved under Resolution 170, the Ho Chi Minh City Department of Agriculture and Environment has submitted land price appraisals for the 1,330-unit New City project in Binh Khanh ward. For the 39 – 39B Ben Van Don project (The Tresor), the Department has advised the City People’s Court to expedite the trial, providing a legal basis for issuing property ownership certificates to homebuyers.
In the first ten months of 2025, the Department has submitted and determined specific land prices for 62 projects, with an expected total revenue of VND 64,200 billion.
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