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HCM City targets nearly 200,000 social housing units by 2028

Ho Chi Minh City aims to have 199,400 social housing units by 2028, two years ahead of the target set by the Government, according to information released at a conference held on December 18.

HCM City has been tasked with building 199,400 social housing units by 2030 to serve low-income earners, workers, civil servants and public employees. (illustrative photo: VNA)
HCM City has been tasked with building 199,400 social housing units by 2030 to serve low-income earners, workers, civil servants and public employees. (illustrative photo: VNA)

HCM City (VNA) — Ho Chi Minh City aims to have 199,400 social housing units by 2028, two years ahead of the target set by the Government, according to information released at a conference held on December 18.

The event was jointly organised by the municipal People’s Committee and the Ministry of Construction to disseminate and implement the National Assembly’s Resolution 201/2025 on piloting special mechanisms and policies for social housing development, along with relevant guiding decrees.

At the conference, Ha Quang Hung, Deputy Director of the Department of Housing and Real Estate Market Management under the Ministry of Construction, said Resolution 201 has significantly shortened administrative procedures for social housing projects. The Government has so far issued eight policies to promote social housing, including those on the national housing fund, direct designation of investors without auctions or bidding, detailed planning, and professional price-setting mechanisms.

Vice Chairman of the Ho Chi Minh City People’s Committee Hoang Nguyen Dinh said the city has been tasked with building 199,400 social housing units by 2030 to serve low-income earners, workers, civil servants and public employees. Previously, the fastest approval process took around eight months, but under the new resolution, it has been reduced to about 45 days. With streamlined procedures now in place, the municipal Department of Construction has shifted its approach towards completing the target earlier, aiming for full completion by 2028 through accelerated and rolling implementation.

At the conference, the Department of Construction also announced eight land plots that have been zoned for social housing development and will be used to select investors.

Nguyen Quang Thanh, Deputy General Director of the Ho Chi Minh City State Financial Investment Company (HFIC), said eligible domestic enterprises, cooperatives and public service units participating in social housing projects will receive full interest rate support from the State. The maximum loan eligible for support is 200 billion VND (7.6 million USD) per project, with a support period of up to seven years./.

VNA
#social housing #Ho Chi Minh City #low-income earners #workers #administrative procedures Ho Chi Minh City
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