After facing legal barriers, Novaland’s NovaWorld Phan Thiet project received investment approval from Lam Dong People’s Committee. The project spans nearly 1,000 hectares with a total investment of $5 billion. Previously, it encountered issues regarding investment procedures and land-use rights, such as insufficient legal foundation for “project life cycle business” and pending financial obligations for land rental. By the end of June 2025, the province issued crucial decisions to resolve these issues, including amending the investment policy and changing the land lease from annual payments to a one-time payment. A land valuation council will be established to determine land prices for the project. Phase 1 has launched important facilities like the Movenpick Hotel and amusement park, with approximately 1,500 villas already delivered.
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