Novaland’s stock (NVL) has seen dramatic growth on the stock exchange, reaching a price of 11,100 VND/share, the highest in nearly four months, with a trading volume of 27 million shares, boosting market capitalization to over 21.6 trillion VND. This surge comes after Novaland received a ruling from the Vietnam International Arbitration Center (VIAC) over a dispute with Saigon Co.op Investment Development Company. The ruling requires the respondent to fully comply with obligations under the project development cooperation contract. If not implemented, Novaland has the right to request land allocation to protect its legal interests. The Saigon Co.op An Phu project, with a total investment of nearly 450 million USD, includes a shopping center and office buildings. Recently, Saigon Co.op has planned to cease cooperation with Novaland due to legal discussions as the project’s investor.
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