Vietnamese property developer the Novaland Group recently announced it will continue the second phase of its business strategy for 2019 and expand into tourism property by introducing the new NovaWorld tourism property model, with two projects in south-central Binh Thuan province and southern Ba Ria Vung Tau province.
The two new properties - NovaWorld Phan Thiet and NovaWorld Binh Chau - were launched in Ho Chi Minh City last week and both will include property, tourism, and entertainment elements.
A Novaland representative said the development of the two projects is part of its strategy to gain a foothold in the local tourism property market.
To carry out its strategy, Novaland will develop products under the brand name NovaWorld for tourism property projects of 100ha or more with houses, second-home villas, hotels, resorts, theme parks, safari parks, or golf courses.
Covering an area of over 1,000 ha, NovaWorld Phan Thiet will have houses, second-home villas, and shophouses, all with views of the sea. It will also feature an entertainment area with theme parks, a petting zoo, a golf course, and a beach club.
NovaWorld Binh Chau, meanwhile, will be built on an area of over 100 ha in a tropical style, with theme parks including adventure land, a saltwater swimming pool, a diving pool, and a place for adventure games.
The company has cooperated with experienced domestic and foreign partners in developing NovaWorld, to provide the best services to guests.
It signed strategic agreements with Hoa Sen University and the Hai Au Trading Investment Corporation on the same day, under which Hoa Sen will closely cooperate with Novaland in training and providing human resources while Hai Au will cooperate in providing helicopter services.
Novaland is a giant property developer in Vietnam with more than 40 housing projects in Ho Chi Minh City offering 26,000 products to the market.
The company has invested in tourism property projects in recent years and aims to launch three brand names this year for tourism property projects: NovaHills, NovaBeach, and NovaWorld.
It also plans to bring about 2,400 hospitality products to the market this year, along with about 4,500 housing products in Ho Chi Minh City and neighboring provinces.
Novaland targets expanding its investment into the hospitality sector in the tourism destinations of Phu Quoc Island, Binh Thuan, Khanh Hoa, and Ba Ria Vung Tau.