On June 27, the People’s Committee of Binh Thuan Province approved the change in land use for the NovaWorld Phan Thiet tourism complex project after years of legal issues. The project is now allowed to switch from annual rental payments to a one-time payment for the entire rental period. The provincial authority also assigned relevant agencies to carry out the financial obligations and issue land use certificates to the investor. Earlier, the committee approved an adjustment to the investment policy, updating the project’s goals and schedule. These decisions facilitate Novaland’s dealings with credit institutions for funding. Currently, banks have provided credit packages totaling 7.558 trillion VND for the project, with additional commitments from financial organizations. It is expected that by June 2025, the project will officially deliver 1,500 villa and house products.
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