Novaland ­Group sets sights on high 2019 turnover

January 18, 2019 | 08:00
Novaland, one of the leading property developers in Vietnam, has set the target of harvesting VND18 trillion ($782.6 million) in its turnover in 2019, up 20 per cent on-year.
novaland group sets sights on high 2019 turnover
Novaland is launching a range of new projects into the market in 2019

According to Bui Xuan Huy, general director of Novaland, the company expects to hand over 5,900 products and sell 6,500 products this year in order to reach the goal, up 42 and 44 per cent, respectively.

Over four consecutive years, the group aims to sell 7,200 products in 2020, 8,300 in 2021, 9,000 in 2022, and 10,500 in 2023. This year, Novaland will strengthen the holiday properties with three key products including NovaHills, NovaBeach and NovaWorld, and launch about 2,300 vacation products to the market.

Apart from developing condominiums, the group has been expanding into vacation and resort properties. The first projects launched include the NovaHills Mui Ne Resort and Villas in Phan Thiet city of the south-central province of Binh Thuan, and the neighbouring province of Khanh Hoa’s NovaBeach Cam Ranh Resort and Villas. “Our strategy is to expand across Ho Chi Minh City since the land fund in the city has been limited,” said Huy.

He added that with the total land fund of more than 2,650 hectares, Novaland will reserve 26 per cent to develop housing mainly in the east of Ho Chi Minh City in districts 2 and 9.

The remainder of land will be earmarked for holiday properties and resorts. A range of tourism projects will be implemented in coastal cities with high tourism potential such as Danang, Nha Trang, Phu Quoc, Binh Thuan, Dalat, and Can Tho. Last year, the group put into operation the Azerai Can Tho resort in Can Tho city and Anantara Mui Ne resort in Phan Thiet province. Novaland had signed a strategic co-operation agreement with global hotel management company Minor Hotels to manage and operate seven hotels and resorts with over 3,500 keys, and Greg Norman Golf Course Design to develop four golf courses in Can Tho, Ba Ria-Vung Tau, and Phan Thiet-Binh Thuan.

The tourism market in Vietnam has been developing remarkably with an average growth rate of international arrivals of 27.5 per cent during 2015-2017, far higher than the 5.1 per cent seen three years ago. With over 25 years of establishment and development, Novaland has now become one of the leading property developers in the country, with more than 40 residential projects in Ho Chi Minh City, which are providing over 26,000 various property products to serve over 250,000 customers.

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