Bac Giang mobilises 92.5 trillion VND for housing development

A social housing project in Bac Giang city (Photo: VNA)

Bac Giang (VNA) - The northern province of Bac Giang plans to mobilise some 92.5 trillion VND (3.9 billion USD) by 2025 for its housing development programme, under which it targets building 85,600 housing units with total floor area of more than 12.98 million square metres.

Of this amount, some 695 billion VND (29.4 million USD) from the local budget and private sources will be spent on housing support for the poor and those who contributed to the country’s revolution. The remainder will be invested in social and commercial housing projects.

From now to 2025, Bac Giang will focus investment on completing eight commercial housing projects in Bac Giang city, including apartment buildings in lots TM7, OCT5 and OCT8A on Nguyen Van Cu street, apartment buildings at Xuong Giang street, mixed-use buildings on lots CO1 and X03 in Residential Zone 2, the HH4 commercial-residential complex in the urban zone in the south of Bac Giang city, a housing project on lots A-LK36 and A-LK3, and the housing project on the pedestrian street in the south of Bac Giang city.

The eight projects will have a total of some 374,300 square metres of floor space with 20,405 apartments. Bac Giang is also calling for investment for the building of 150,000 square metres of commercial floor space, equivalent to 1,766 apartments.

The province targets completing ongoing social housing projects for workers. It is calling for investment in additional housing projects for workers at industrial zones in the districts of Viet Yen, Hiep Hoa, and Yen Dung with 776,000 square metres of total floor area, or 15,520 apartments, meeting 70 percent of housing need among workers.

It will also focus on completing ongoing social housing projects for low-income earners while encouraging more investment in social housing projects for this group, offering as many as 393 apartments, or 49,900 square metres of floor space.

Between 2020 and 2055, the province targets providing housing support to an additional 527 people who contributed to Vietnam’s revolution and 2,948 poor households.

Private houses measuring over 11.4 million square metres in floor space are expected to be built during the period. Of this, 8.84 million square metres are in new residential and urban zones, with the remainder being in existing residential areas.

Bac Giang has identified a host of measures to realise its targets, including offering incentives and credit access support to investors of social housing projects and housing projects for workers at industrial zones. The province will also streamline procedures to get housing construction and upgrading permits.

It will also continue encouraging the use of private resources for building apartment blocks for workers at industrial zones and social housing for low-income earners. Land with infrastructure will be provided, for local people to build houses.

Measures will also be devised to ensure general planning and design is used, that the real estate market is stable, and that old buildings are renovated.

There are currently seven apartment buildings in Bac Giang city with 1,895 apartments in total. Of these, 979 apartments with 93,075 square metres of floor space were put to use in 2000.

In implementing the Prime Minister’s Decision No. 22/2013/QD-TTg dated April 26, 2013 on providing housing support for people who served the revolution, the province has provided support to 2,784 households in need. Of these, 1,776 households required new housing and the remainder needed to repair their existing housing.

Thirteen commercial housing projects have been implemented in Bac Giang since 2014, with a combined floor space of 493,677 square metres on 10.28 hectares. These projects are expected to meet the housing demand of 19,771 people.

Six of the 13 projects have been completed, with a combined floor space of 76,920 square metres, or 773 apartments put into use, meeting the needs of 2,706 people./.