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7 of 9 delivered
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Novaland Group
7 of 9 sub-zones delivered · 2 upcoming 2026
Largest ecological township near HCMC — 1,000ha with 32km riverfront, 385ha water surface, and 70% green space, 15km from Long Thanh International Airport.
1,000-hectare smart ecological township by Novaland along the Đồng Nai River in Biên Hòa, Đồng Nai — 30 min from HCMC center via expressway. Approximately 9,200 low-rise units (townhouses, shophouses, villas) across multiple sub-zones including The Elite, The Suite, The Valencia, The Stella, and Phoenix Island (286ha). Features 32km of natural riverfront, 385ha water surface, and 70% green/amenity space with only 30% construction density. More than 1,100 units delivered with hundreds of families residing on-site. Legal obstacles fully cleared with all three levels of planning approval synchronized; first batch of 752 pink books begins handover June 2026.
Balanced for both homeowners and investors.
Aqua City offers the Dong Nai region's largest ecological township — 1,000ha with on-site school, hospital, and mall — at resale prices 40-50% below 2021 peak, with Long Thanh Airport's commercial opening the most immediate 2026 catalyst. The binding constraint for any buyer is Novaland's financial restructuring: pink books are only beginning (752 of ~9,200 units from June 2026) and the Long Hung Bridge cutting the HCMC commute to around 10 minutes is still two years out.
Homeowner: A solid choice for homeowners who can accept a 40-60 min commute to HCMC in exchange for exceptional ecological quality. With 70% green space, 32km of Dong Nai riverfront, and operating anchors — Nova Hospital, KinderWorld's 25-hectare school campus, Nova Mall — the township delivers a lifestyle package that most urban projects cannot match at this price level. The binding caution is Novaland's financial restructuring: pink books are only beginning (752 of ~9,200 units from June 2026) and the broader project is still building out, leaving the community thinner than the amenity package suggests.
Investor: A catalyst-driven investment with a functioning secondary market but concentrated risk. Resale prices are 40-50% below 2021 peak — entry value is real — and Long Thanh Airport targeting commercial operation in Q4 2026 is an immediate demand catalyst 15km away. The central risk is Novaland's 67.2 trillion VND debt: international bonds restructured to July 2028 and ongoing equity-for-debt conversions keep sponsor stability uncertain. Pink books cover only 752 of ~9,200 units from June 2026, limiting clean title resale for most buyers. This is a 3-5 year hold thesis, not a near-term flip.
| Market range | 50 triệu – 200 triệu/m² |
| Unit price | 4,8 tỷ – 50 tỷ |
| Rent | 30 triệu – 120 triệu/mo |
| Launch price | 51 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Aqua City | 60 triệu/m² | — |
| Izumi City | 48 triệu/m² | 1 km |
| Vinhomes Grand Park | 81,5 triệu/m² | 3.3 km |
The township is stabilizing — resale prices across delivered sub-zones are holding well below 2021 peak while Long Thanh Airport's commercial opening and the Bien Hoa-Vung Tau Expressway's completion bring 2026's most immediate catalysts within reach.
| Developer | Novaland Group |
| Status | 7 of 9 delivered |
| Completion | 2027 |
| Total Units | 9200 |
| Launch Date | 2019 |
| Handover | 2027 |
| Construction Permit | Approved |
| Pink Book | in_progress |
| Legal Notes | All 3 levels of planning (1/10000, 1/2000, 1/500) synchronized — legal obstacles fully cleared. Phoenix Island sub-zone planning adjustment formally approved per Decision 3781. Over 1,100 units delivered. Department of Construction confirmation: 1,273 units now approved for HĐMB purchase agreements (752 in Districts I/V plus 521 in Aqua Waterfront City District II as of Apr 2026). First batch of 752 pink books planned for handover starting June 2026 (Sun Harbor 2 and Ever Green 1 sub-zones). Novaland 2026 AGM (Apr 23) named Aqua City a priority project; portfolio-wide targets 4,300 pink books and 5,200 product handovers in 2026, revenue 22.715T VND (3.26x 2025). Bùi Cao Nhật Quân elected Chairman 2026-2031 replacing founder Bùi Thành Nhơn (now Strategy/ESG Committee chair). Total Novaland debt 67.2T VND end-2025 (bank 27.2T, bonds 25T, third-party 15T). $300M international bond restructuring rescheduled maturity to July 16, 2028. Equity-for-debt conversions ongoing; up to 800M-share private placement approved at AGM. 10T VND credit package from domestic banks supports 2025-2026 construction and handovers. Former Đồng Nai Vice Chairman prosecuted for land violations (Nov 2024). Bloomberg probe report (Oct 2025). |
Aqua City
| CBD (peak) | 59 min |
| CBD (off-peak) | 53 min |
| Airport (peak) | 71 min |
| Airport (off-peak) | 68 min |
| Long Thành (peak) | 47 min |
| Long Thành (off-peak) | 46 min |
Upper-middle-class families from HCMC and Bien Hoa make up most of the resident base, with a mix of homeowners and investors. Hundreds of families are living in the delivered sub-zones, though many units remain unoccupied following the 2021-2024 market downturn — the community is established enough to feel lived-in, but not yet at the density that creates a vibrant street life.
