Developers of social housing projects buyers of this kind of houses are entitled to benefit from a credit package worth 120 trillion VND (5.1 billion USD) which was started by the State Bank of Vietnam (SBV) earlier this month.
The management and use of resettlement housing projects in Hanoi must be improved through the coordination of various state agencies, according to the municipal People’s Committee.
Minister of Construction Nguyen Thanh Nghi has presented to the National Assembly measures to be taken in the time ahead to meet housing demand of low income earners and workers.
Social housing projects that developers were hesitant to invest in due to capped profit suddenly gained traction as giant developers recently announced plans to step into the segment.
Two 12-storey dormitories for factory workers are under development in Thu Duc City, Ho Chi Minh City, capable of accommodating more than 1,000 people.
State-owned Viglacera Corporation on February 8 broke ground on a 250-ha industrial park and a 2,000-unit housing project for factory workers and experts in the northern province of Bac Ninh.
Singaporean experts have shared experience in developing workers’ accommodations in industrial parks with Vietnam during a recent meeting with officials from the Ministry of Construction.
The capital city of Hanoi is expected to launch 11 new housing projects in the fourth quarter of this year, providing the market with 7,900 apartments. The new condominiums are located in the districts of Gia Lam, Hoang Mai and Tu Liem.
Ho Chi Minh City will limit the construction of new residential high-rises in districts 1, 3, 4, 5, 6, 11 and Phu Nhuan, under a housing development plan for the 2021-2030 period.
Vietnam has 513 social housing projects for workers, 249 of which with 5.2 million sq.m of floor area are completed, or 41.7 percent of the plan, according to figures from the Ministry of Construction.
Hanoi needs nearly 4 billion USD to develop 7.2 million square meters of social housing in the next five years amid a shortage of low-cost residential real estate.
A policy allowing foreign individuals and organisations to buy and own houses and construction works in Vietnam will help lure investment and high quality human resources from the outside to the country for national development, according to Nguyen Tran Nam, Chairman of the Vietnam Real Estate Association.
The Hanoi Department of Construction has listed 22 commercial housing projects, some complete and some under construction, where foreigners can own homes.
A series of different scenarios and measures to support businesses and people in the northern coastal province of Quang Ninh in the case of a prolonged COVID-19 pandemic were proposed at meeting in the locality on April 21.
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