Novaland Group is in the final stages of a comprehensive restructuring effort, addressing legal, bond, and cash flow crises as it seeks to regain its position as a major player in Vietnam’s real estate market.
The move involves the conversion of bonds into shares, signaling a strategic maneuver to shore up the company's financial standing and navigate turbulent market conditions.
Prominent Vietnamese real estate developer Novaland is grappling with a staggering debt of over VND57 trillion despite concerted efforts to restructure its financial liabilities.
The Vietnamese property developer continues to approach the world’s leading consultants to hasten the development of the mammoth NovaWorld Phan Thiet tourism city.
Novaland Group, a leading real estate developer in Vietnam, has announced the second disbursement of $101 million from its $250 million inaugural syndicated secured term loan facility.
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Novaland Group has launched a real estate centre at the Aqua City project, Bien Hoa city, Dong Nai province.
DEG also provides consulting service for Novaland in other issues.
The Novaland Real Estate Centre in Hanoi will be a hub for Northern investors to get update on Novaland’s latest products as well as enjoy its top-notch customer services.
Novaland Group will be celebrating its 27 years of establishment and development on September 18, 2019.
Significant land bank and strong financial foundation are expected to help Novaland deliver sustainable growth.
The company is aggressively expanding its investment beyond residential development in Ho Chi Minh City into satellite urban areas in neighbouring provinces and hospitality real estates in outstanding tourism destinations.
The Ba Ria Vung Tau provincial People’s Committee has given the green light to the Ho Tram safari and resort project.
It is the first time the Ho Chi Minh City-based property developer has appointed a foreign contractor for its high-end projects.
The 250,000 clientel along with tens of reputable strategic partners lays a solid foundation for Novaland to intensify investment in tourism real estate.
