A joint venture between FLC Group and Lotte Land has been formed in early June with a chartered capital of over $24 million to invest in a real estate project in Hanoi.
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.
Investors are moving beyond residential market to venture into tourism and industrial real estate.
Novaland Group petitioned the authorised bodies of Ho Chi Minh City to review the suspension of changing the purpose of use for their seven projects which are situated on golden spots of the city.
Phu My Hung joint venture reported an after- tax profit of nearly VND3.27 trillion, equalling to $140 million in 2016 only and was one of the largest profitable real estate companies in Vietnam.
Novaland Group, one of Vietnam's biggest property developers has just released impressive figures of both revenue and profit recorded in the first six months of this year.
Combining with many unique tours for visitors to explore the special destinations of the Mekong River Delta, Azerai Can Tho promises to become a high-end residence, opening up unique cultural experiences for guests traveling to the West of Vietnam.
