Novaland Investment Group Corporation (Novaland) has sold 49% of its shares in Gia Duc Real Estate Company for 1.725 trillion VND, reducing its ownership to 53.99%. Gia Duc is currently the investor of part of the Phoenix Island project, situated in the high-end Phuoc Hung Service and Trade Urban Area, approved for planning since 2012. Novaland has invested about 2.6 trillion VND into Gia Duc and issued 1.3 trillion VND in bonds to raise capital. The company is currently facing a total debt of nearly 6 trillion VND, with equity reaching nearly 3.5 trillion VND. In addition, in Q2 2025, Novaland recorded a net revenue of 1.937 trillion VND and a loss of 190 billion VND, a significant decrease from the loss of 6.726 trillion VND in the same period last year. In the first half of the year, total consolidated revenue reached 3.715 trillion VND.
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