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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 is a 1,000-hectare ecological township on the Đồng Nai River with operating on-site anchors — a Singapore-curriculum K-12 school, hospital, and mall — at resale prices 40-50% below peak; buyers should weigh Novaland's debt legacy and a car-only commute against those advantages.
Homeowner: A reasonable choice for homeowners drawn to large-scale ecological living near HCMC. Operating anchors — KinderWorld K-12 school, Nova Hospital, and Nova Mall — set this project apart from comparable suburban townships, and 70% green and water coverage is genuinely unusual at this scale. The honest tradeoffs: a car-only 40-60 minute peak commute to HCMC, pink books only beginning to process, and a community still forming after Novaland's debt difficulties left many delivered units unoccupied.
Investor: A catalyst-dependent thesis with meaningful upside if infrastructure delivers on schedule. Resale prices 40-50% below peak create a discounted entry point, and Long Thanh Airport commercial operations targeting Q4 2026 — 15 km from the project — are the most credible near-term re-rating trigger. The constraint: rental yields are estimated at 3-4%, the tenant pool skews local rather than HCMC-commuter, and the key commute catalyst — Long Hung Bridge — targets 2028.
| Unit price | 4,9 tỷ – 68 tỷ |
| Rent | 12 triệu – 120 triệu/mo |
| Launch price | 51 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Izumi City | 48 triệu/m² | 1 km |
| Vinhomes Grand Park | 65 triệu/m² | 3.3 km |
Aqua City's market is stabilizing from post-crisis lows, with Long Thanh Airport catalyzing renewed buyer interest, but full re-rating awaits pink book completion and Long Hung Bridge delivery.
| 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 approved for HĐMB purchase agreements (752 in Districts I/V plus 521 in Aqua Waterfront City District II as of Apr 2026); total properties approved for purchase agreements estimated at ~2,400 across the project as of mid-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). Q1 2026 financial results (published May 2026): net profit VND 860 billion ($33M), swinging from net loss in Q1 2025; consolidated revenue VND 3.59T ($136M), doubling YoY driven by handovers at Aqua City, Sunrise Riverside, NovaWorld Phan Thiet, and NovaWorld Ho Tram; gross margin improved to 52.6% from 36.6%; shares hit 3-year high. Total Novaland debt approximately 69T VND as of mid-2026 (up from 67.2T end-2025), inventory ~154T VND. $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). Searched June 2026: positive development — Q1 2026 profit turnaround confirmed; debt restructuring yielding results; pink book handover commencing as planned. |
Aqua City
| CBD (peak) | 64 min |
| CBD (off-peak) | 51 min |
| Airport (peak) | 77 min |
| Airport (off-peak) | 65 min |
| Long Thành (peak) | 49 min |
| Long Thành (off-peak) | 44 min |
Primarily upper-middle-class families from HCMC and Biên Hòa who purchased during the 2019–2021 launch period. Hundreds of residents are active across delivered sub-zones — The Elite, The Suite, The Valencia, River Park 1, The Stella, and The Grand Villas — though many units remain unoccupied following the Novaland debt difficulties and market downturn. Renters are a small share; the project skews toward owner-occupiers and long-term investors.
