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NVL: Information on Binh Khanh Project “Binh Khanh Residential Project owned by 21st Century International Development Co., Ltd, which is a subsidiary of Novaland Group, is a residential project located in Binh Khanh Ward, District 2, Ho Chi Minh City with a site area of 30ha. The project was granted the Investment Decision No.3990/QD-UBND by Ho Chi Minh City People's Committee and is gradually under the relevant legal procedure completion.
Unfortunately, in the middle of the general review of Thu Thiem area in District 2, this Project as well as others in the nearby area have gone through a long process of review, which results in the slow implementation and other severe consequences, especially increasing the capital cost for investment and construction.
This interruption is negatively impacting the Group's overall business as well as the domestic and foreign investors' interests, thereby, also affecting the overall investment environment in Ho Chi Minh City. Novaland has sent many official letters to explain the issue and appeal to the Government, related Ministries, and Agencies for consideration and support, so that the project can continue to be developed in the soonest time and the business environment can be stabilized.
Novaland Group, a corporate with 28 years of establishment and development, has always focused on sustainable development and constantly strived to create value-added products that benefit the community. Novaland is currently a publicly traded company in the VN30 index and the only company in Viet Nam that has its convertible bonds listed on the Singapore Stock Exchange.”
Source: www.novaland.com.vn HOSE
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