HCM City (VNS/VNA) — The southern province of Dong Nai is seeking investment in two social housing projects as part of an effort to develop 12 social housing projects with over 13,000 units this year to meet the growing need for affordable housing.
The provincial Finance Department is currently inviting investments for more than 3,000 social housing units in two main locations: Nhon Trach district and Bien Hoa city.
The first project, covering 2.1ha in Phuoc An commune, Nhon Trach district, with an estimated investment of over 1 trillion VND (39.2 million USD), will provide 1,800 units (from 25 to 70 square metres) and offer homes for about 2,800 workers and local residents.
Once an investor is selected, the project is expected to take 30 months to complete.
The second project will be located on a 14.5ha site in the resettlement area of Long Binh ward, Bien Hoa city, which will provide 1,250 units (25 and 70sq.m), with a total investment of over 1.1 trillion VND.
The plan is to finalise investment procedures this year, break ground early next year, and aim for completion by 2028.
Earlier, Dong Nai had called for investment in three social housing projects also in Bien Hoa city.
The province has set an ambitious target to develop at least 50,000 apartments for low-income earners and workers by 2030.
With its large population and significant number of migrant workers, demand for social housing is high in the province.
There are currently over 1,000ha of land set aside for social housing, making it the largest allocation in the country, potentially allowing for 50,000 units.
There are 10 ongoing projects that will create 13,000 new units, while an additional seven projects have been approved for investment, totaling 8,000 units.
The province has introduced a new policy that allows the use of provincial budget funds to cover 20% of the costs for building essential infrastructure for social housing projects, worker accommodations in industrial zones, and housing for military personnel in the area.
At a recent conference, Prime Minister Pham Minh Chinh noted the urgent need to prioritise social housing projects in Vietnam, calling for policies to encourage investment in social housing.
Nationwide, 9,737ha have been designated for social housing, with localities such as Dong Nai and Binh Duong ensuring land near urban centres, according to a report by the Ministry of Construction.
Vietnam has set a target to build one million social housing apartments for low-income individuals and industrial workers by 2030.
Since 2021, it has completed 655 social housing projects, totaling 593,428 units.
Last year, 28 projects with 20,284 units were finished, and 23 new projects with 25,399 units were launched, alongside 113 approved projects for 142,450 units./.
No one should wait 5-10 years for social housing: PM
While acknowledging certain progress in social housing construction, the Government leader noted that results have yet to meet expectations.
