The central city of Da Nang, which is one of the best places in the country to buy affordable housing, plans to build at least 1.2 million sq.m of social housing by 2015.

A joint action scheme to implement the national housing development strategy until 2020 was signed between the Ministry of Construction and the municipal People’s Committee in Da Nang on August 23.

As a result, 20,000 housing units covering 150,000 sq.m will be made available to students. Housing for sale and lease to urban low-income earners will reach 850,000 sq.m - equivalent to 15,000 apartments – and 195,000 sq.m will be designed for 17,000 workers.

During the period, the city will relocate, dismantle and rebuild 22 residential areas and three run-down blocks with up to 600 apartments.

Under the scheme, the two sides will make it easier for their units to invest in social housing and will encourage the involvement of companies from different economic sectors in the effort.

Together, they will improve the operation of the city’s housing development fund and the saving and housing development fund, to make more funding available to both investors and buyers.

According to Deputy Minister of Construction Nguyen Tran Nam, his ministry will perfect housing policies tailored for war heroes, members of the armed forces, public servants and low-income earners in urban areas.

He also called on localities nationwide to work out their own housing development plans for the short, medium and long term.-VNA