In addition to their main market, HCM City, many big players in the city property market have been expanding to neighbouring provinces since last year.

So has Novaland Group.

The giant company entered them mainly through mergers and acquisitions. Some of the remarkable projects it landed through M&A are an urban area in Dong Nai Province and some in the hospitality sector in Can Tho, Ba Ria-Vung Tau and Binh Thuan.

Last year it launched a project called Aqua City. In line with the green living trend, this is the first ecological urban area project in Bien Hoa City in Dong Nai. It will have town houses, villas and shophouses and numerous amenities.

A model of Aqua City at the Novaland Expo last December

In the hospitality sector, the group has unveiled three projects: NovaWorld Phan Thiet in Phan Thiet City, Binh Thuan Province, and NovaWorld Ho Tram in Ba Ria-Vung Tau. These are second-home projects to be built with amenities of international quality.

Upon their launch, the two projects received positive feedback from prospective customers, and have gone on to enjoy high sales.

Ocean-view second home project at NovaWorld Phan Thiet

The current efforts have helped Novaland achieve good results in 2019.

It achieved revenues of nearly VND11 trillion and after-tax profits of VND3.4 trillion, hitting the annual target.

Thanks to programmes to strengthen its assets, the company’s assets were worth VND90 trillion at the end of last year, a 30 per cent jump from the previous year.

Short-term assets increased by 42 per cent to over VND71.2 trillion.

Inventories jumped by 80 per cent to nearly VND57.2 trillion. It is notable that nearly 90 per cent of this is from projects that are under construction and other projects that have not been introduced to the market.

Besides, this high inventory rate shows Novaland owns huge parcels of land which will be used to develop projects in 2020 and the coming years.

Besides its excellent business results, Novaland also boasts remarkable achievements in reaching investors and mobilising capital on the international market.

In the final quarter of last year it successfully mobilised US$600 million from foreign investors. The deal was arranged by a globally reputed financial institution, Credit Suisse.

Last year the company received $310 million, and the remaining US$290 million is available in 2020.

Novaland is one of the very few companies in Viet Nam able to mobilise huge funds from foreign financial institutions. Loans from global financial institutions often come with stringent conditions because lenders run careful due diligence on borrowers.

Part of the VN30 stock market index and with convertible bonds listed on the Singapore stock exchange, Novaland is a prestigious brand in the global property market. The company is always focused on risk management and transparent in management, human resource development, use of high-tech, partnerships, and brand development.

Novaland recently introduced a special programme for its shareholders under which they will get priority in buying units in Aqua City, NovaWorld Phan Thiet and NovaWorld Ho Tram. The programme will last until the end of June.

People who have owned at least 1,000 shares for six months will get a discount of VND55 million. This will be run in addition to other promotion programmes at each project.