HCM City starts building 1,500 social housing units

Construction of nearly 1,500 apartments for low-income people at two social housing projects has started in Ho Chi Minh City.

Tuesday, September 06, 2022 17:30

HCM City starts building 1,500 social housing units ảnh 1

At a groundbreaking ceremony for a social housing project (Photo: sggp.org.vn)

HCM City (VNA) - Construction of nearly 1,500 apartments forlow-income people at two social housing projects has started in Ho Chi Minh City.

The projects will help meet the rising demand for affordable housing in thecity, especially from migrant workers, according to the municipal Department ofConstruction.

One of them, Dragon E-Home, will have 764 apartments measuring 25-85sq.m on aland plot of nearly 19,00sq.m in Thu Duc city’s Phu Huu ward.

Developed by Dragon Village Real Estate Joint Stock Company, its constructionbegan on August 30.

The 6,995sq.m MR1 project in Binh Thuan ward in District 7 will have 712 units.It is being developed by the Xuan Mai Sai Gon Construction Investment JointStock Company.

The city will also soon begin renovation and reconstruction of two old apartmentcomplexes in District 1 and Tan Binh district.

They are at 350 Hoang Van Thu in Tan Binh district (with 374 units) and 23 Ly TuTrong in District 1 (160 units).

The city has identified housing as one of the most important factors insocio-economic development.

The municipal People’s Council has passed a resolution for housing developmentin 2021-30 and expects to build 35,000 houses in 2021-25 and nearly 58,000 by2030.

All sectors are encouraged to invest in housing development, especially socialand low-cost housing.

Funding for social housing will mainly come from private enterprises,preferential bank loans and the city's coffers.

The city plans to allocate 3.8 trillion VND (160 million USD) for socialhousing in 2021-25 and 8.6 trillion VND (366.8 million USD) for the next fiveyears.

The People's Council is set to establish a working team to monitor thedevelopment of social housing in the city in 2016-25./.

VNA

#social housing #Vietnamplus #Vietnam News Agency #Dragon E-Home #Dragon Village Real Estate Joint Stock Company #affordable housing Ho Chi Minh City

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