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2 clusters · 3 sources · 17 days · First seen · Last updated

Novaland Group financial restructuring and debt management

Overview

Novaland Group has undergone significant financial restructuring and asset divestment throughout the first half of 2026 to manage mounting debt obligations.

In August, the group reported a 37.6% increase in revenue for the first six months of the year, driven in part by the divestment of its stake in Ngoi Nha Mega. However, subsidiaries within the Novaland ecosystem, including The Forest City and Ngan Hiep Real Estate, were identified as having significant outstanding tax debts to Ho Chi Minh City authorities.

By September, the company’s focus shifted toward a broader divestment plan to address a total principal debt of 72,911 billion VND. Novaland successfully sold four assets totaling 11,266 billion VND and is negotiating the restructuring of 16,716 billion VND in matured loans and bonds that remain unsettled. Auditors have expressed “significant doubts regarding the group’s ability to continue as a going concern” due to negative net cash flow and liquidity challenges.

Entities

Novaland Group · Moore AISC

Timeline

  1. 9 days ago

    [BUSINESS] 3 sources
    Novaland sells 11,266 billion VND in assets to address debt

    Novaland has sold 11,266 billion VND in assets to manage debt, but auditors warn of liquidity risks as the group faces 16,716 billion VND in unpaid matured loans and bonds.

  2. 25 days ago

    [BUSINESS] 2 sources
    Novaland Group divests subsidiary and faces subsidiary tax debts

    Novaland Group has divested its stake in Ngoi Nha Mega amid rising revenues, while two of its subsidiaries, The Forest City and Ngan Hiep Real Estate, face significant tax debts in Ho Chi Minh City.

Sources

cafebiz.vn · dientuungdung.vn · tuoitre.vn