Novaland scaling up investment in tourism property
By Dieu Anh
March 11, 2019 | 03:53 PM GMT+7
The Ho Chi Minh City-based real estate developer has debuted NovaWorld brand with two integrated resort projects in Binh Thuan and Ba Ria - Vung Tau provinces.
NovaBeach Cam Ranh project.
NovaWorld is the third brand Novaland has introduced in tourism property business after NovaHills and NovaBeach.
NovaWorld refers to large-scale integrated tourism complexes with land area of more than 100 hectares, boasting various facilities such as vacation homes, townhouses, hotels, resorts, theme parks, safaris or golf cources.
The first two NovaWorld will be built in Binh Thuan and Ba Ria-Vung Tau province.
NovaWorld Phan Thiet will be built in Binh Thuan on an area of nearly 1,000 hectares, featuring townhouses, villas, two 18-hole golf courses, a theme park, a water park, a zoo and a 16-hectare beach club.
NovaWorld Binh Chau takes up 100 hectares in Ba Ria - Vung Tau province and will be connected with nearby casino, hot springs and golf courses. Designed as a tropical paradise, NovaWorld Binh Chau will have a water park themed Adventure Land, a salt-water swimming pool, a diving pool, and forest adventure games.
Novaland general director Bui Xuan Huy said the NovaWorld Phan Thiet would start construction in the first quarter of 2019.
In total, Novaland expects to introduce about 2,400 tourism property products this year while still focusing on the housing market in Ho Chi Minh City.
The group has signed strategic cooperation agreements with Hoa Sen University in training and providing qualified human resources, and with Hai Au Investment and Trading Joint Stock Company in providing helicopter tours, rescue and transportation services for its seaside tourism projects.
Novaland, which has developed a series of high-end apartment complexes in Ho Chi Minh City, is agressively expanding into tourism property sector.
Following its opening of Azerai resort in Can Tho province one year ago, the group has recently launched NovaHills complex in BinhThuan province and NovaBeach properties in Cam Ranh area of Khanh Hoa province.
Novaland has signed strategic cooperation agreements with Greg Norman to design its golf course projects and Minor International to operate its resorts.
Meliá Ho Tram Beach Resort, a 152-room and 61-villa five-star property poised on a beach within easy reach of Ho Chi Minh City, will celebrate its grand opening in April.
Meliá Ho Tram Beach Resort, a 152-room and 61-villa five-star property poised on a beach within easy reach of Ho Chi Minh City, will celebrate its grand opening in April.
Vietnam's hospitality industry is undergoing a major transformation with a brand repositioning strategy that emphasizes unique, sustainable, and community-focused experiences.
Hanoi is set to receive a significant future supply of over 100,000 apartments starting from 2025, a tenfold increase compared to the current availability.
Against a backdrop of economic turbulence, Vietnam's real estate market is witnessing a tentative revival, buoyed by promising developments and cautious investor optimism.
