Novaland Group announced its victory in a dispute with Saigon Co.op Development Investment Company (SID). On March 13, 2025, it received an arbitration ruling from the Vietnam International Arbitration Center (VIAC), requiring SID to fulfill its contractual obligations for the joint project development signed in 2016. If SID fails to comply, Novaland can request state authorities to grant land for the project. The Saigon Co.op An Phu project has an estimated investment of nearly 450 million USD, including a commercial center, office towers, and luxury apartments. SID was approved by the HCMC People’s Committee as the project owner but is currently facing legal difficulties and the impact of the pandemic, necessitating a renewal of their investment status. In early 2023, SID indicated a possible cessation of cooperation with Novaland.
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