NovaGroup, Sokimex pledge to develop Blue Dragon project

Blue Dragon represents one of the components of the Mekong Smart City interregional planning project developed by NovaGroup, including the border gate economic zone in An Giang and Dong Thap provinces. This is along with urban areas, industrial parks, export processing zones, artificial intelligence hubs, commercial centres, food centres, hospitals, schools, and amusement parks.

The project is notable for having a strategic and convenient location in commodity trade between the 13 cities and provinces of the Mekong Delta region with the Greater Mekong Sub-region countries, as well as with the Southeast region.

This marks the first in a series of projects in the Mekong Smart City inter-regional project. Once Blue Dragon project has been completed, it will create a driving force to spur further socio-economic development in the Mekong Delta in the direction of industrialisation and modernisation in border areas.

The project has therefore been planned with full modern facilities such as a Courtyard by Marriott Hotel, a 1,000-seat wedding and convention centre, nine-dragon market, a district market, a border market, a wholesale market, a commercial and service complex, as well as shopping malls and food centres. This is along with a theater, an international hospital, an emergency centre supported by training and operation of Ho Chi Minh City University of Medicine and Pharmacy, schools, training schools, the Tan Chau-Hong Ngu ferry terminal, and a Truc Lam Zen Monastery.

Featuring an incredibly beautiful landscape, Blue Dragon stretches along the Mekong River and is filled with silt and vitality, making it a place full of desirable amenities that have hardly been seen in any other big city.

NovaGroup is an investment and economic development group which includes Novaland (NVL) with shares listed on the HCM City Stock Exchange. The group is therefore listed among the top 30 large-cap, liquid stocks (VN30).

By September 30, Novaland had equity of VND44.7 billion, equal to US$1.6 billion according to the current exchange rate, a market capitalisation of VND44.7 billion, and total assets reaching nearly VND260 billion.

In terms of the partner’s side, Sokimex Investment Group makes up a powerful economic group of Cambodia owned by Duke Neak Oknha Sok Kong, whose parents are Vietnamese and living in Hong Ngu of Dong Thap. Duke Neak Oknha Sok Kong always wanted to contribute to the development of his homeland and help the poor located in Dong Thap.

According to terms of the MoU, Sokimex and NovaGroup will contribute equal capital and co-operate in implementing and completing necessary procedures in accordance with the law. This will be done to conduct the auction of land use rights and the development of the Blue Dragon project.

The Blue Dragon project is therefore expected to finalise the legal process in the first quarter of 2023 for construction to start set to begin in the second quarter of 2023.

NovaGroup will therefore advise on the development of Bokor City Urban Area which has a size of 5,000 hectares in Kampot province in Cambodia and features investment by Sokha Hotel Co., Ltd, a subsidiary of Sokimex Investment Group.

NovaGroup hopes this agreement will be the start for further aspirations, heralding an era of Mekong Delta joining the community of the Greater Mekong sub-region, thereby allowing it to further expand and develop in the near future.