The co-operation agreement signing ceremony between VietinBank and Novaland in HCM City late last week. — VNS Photo

Property developer Novaland Group last week inked a strategic agreement with VietinBank under which the latter will provide preferential loans for buying housing products from it.

They will also design preferential packages for each other’s staffs.

The lending will be for Aqua City in Dong Nai to start with and then hospitality projects like NovaWorld Phan Thiet in Binh Thuan and NovaWorld Ho Tram in Ba Ria – Vung Tau.

The lender will provide a full range of products and services such as medium-term loans and loan guarantees for Novaland's contractors and international payment.

VietinBank and its subsidiaries will get priority use of hospitality, healthcare and education services and amusement facilities in the Novaland eco-system.

Bui Xuan Huy, general director of Novaland, said: “ We hope that the two sides will co-operate to develop a solid financial foundation.”

VietinBank has 155 branches and more than 1,000 transaction offices in all 63 provinces and cities, and seven subsidiaries.

Novaland owns a portfolio of nearly 50 housing and hospitality projects comprising a variety of products. — VNS