Many real estate developers in Ho Chi Minh City are facing stagnation in hundreds of projects due to insufficient legal paperwork. Novaland – one of the leading real estate developers – has just sent a letter requesting help from the government and related ministries to break through difficulties for its 30-hectare project in District 2 of Ho Chi Minh City. More than 25 international banks, organisations, and financial institutions are financial partners to Novaland The letter that Novaland has sent to the government and relevant ministries, on one hand, requested pushing competent bodies to speed up reviewing procedures and support developers to continue their project as soon as possible, to stabilise their business. On the other hand, as the developer holding the biggest land fund currently, the request is a helping hand lent by Novaland to many other developers facing similar difficulties. The reaction from the government and local authorities will consolidate the belief of both domestic and international developers in the investment environment of Ho Chi Minh City. More than 25 international banks, organisations, and financial institutions are financial partners to Novaland. International institutional investments often come with very strict standards and are highly demanding. In many cases, these… Read full this story
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