HCM CITY (Biz Hub) — Property developer Novaland on Tuesday announced that it would develop five new projects this year, bringing to the market around 4,000 products.

The company did not disclose details but said that the new projects would be developed in the central region of the city and that information would be published in March and April.

Phan Thanh Huy, general director of Novaland, said that the year 2016 would mark a turning point of his company when urban area projects are developed, offering houses, villas and shophouses to the market for the first time.

Novaland to develop five projects this year. — VNS Photos

Huy also confirmed that Novaland would limit buying a new project to control credit. Its credit balance will not increase, he said, adding that quality would be further enhanced.

Novaland stressed that it would continue to maintain the progress of projects introduced to the market last year so they will be ready in time.

These include Sunrise Riverside, RichStar, The Sun Avenue, Golden Mansion, Orchard Parkview and Botanica Premier.

Last year, the company developed 12 projects, bringing the total number of company projects to 27. — VNS