HCM City to build 35,000 social housing apartments in 2021-2025
The southern economic hub of Ho Chi Minh City is striving to build 35,000 social housing apartments by 2025, equivalent to 2.5 million square metres of floor space, said the municipal People's Committee.
HCM City (VNA) – The southern economic hub of Ho ChiMinh City is striving to build 35,000 social housing apartments by 2025,equivalent to 2.5 million square metres of floor space, said the municipalPeople's Committee.
In its recent report on the implementation of the city’s housing developmentplan, including social housing projects for the 2016-25 period, the committeesaid HCM City has built and put into use 19 social housing projects, including14,954 apartments from 2016 to 2020.
It has put into use one workers’ accommodation project with 1,449apartments.
According to its social housing development plan, HCM City expectsto build about 35,000 social housing units by 2025, including about 7,000 leasehouses and 4,500 accommodations for workers.
By the second quarter of 2023, the city had completed and put intouse two projects with 623 apartments.
Six social housing projects with 3,956 apartments and one workeraccommodation project with 1,040 apartments are under construction.
The municipal People's Committee has proposed to remove difficultiesand obstacles in social housing construction related to site clearance,compensation, technical infrastructure investment, and other legal costs.
It has recommended the allocation of these costs to the land fundfor social housing construction when investors of commercial housing projectshand over 20 per cent of their residential land fund to the State for socialhousing development.
The city also needs guidance on applying legal regulations onimplementing social housing obligations when adjusting project implementationprogress and on determining members of households to consider beneficiaries ofsocial housing policies./.
A 120 trillion VND (5.08 billion USD) package in preferential lending rates for social housing developments started to see first disbursement, a positive signal after the development of affordable homes had been in stagnation partly due to a shortage of capital for several years.
To date, 10 provinces have sent their lists of projects for access to a 120 trillion VND (5.11 billion USD) housing credit package, heard an online conference on reviewing a resolution to remove difficulties for the development of the real estate market chaired by Prime Minister Pham Minh Chinh on August 3.
Many experts on the property market proposed cutting interest rates of loans for investing or buying social housing products to 4.5-6% per year from 8.2-8.7% at present.
After four months of implementing a 120 trillion VND (5.11 billion USD) credit package for investors and buyers of social homes, only 95 billion VND was disbursed, and 950 billion VND was committed for lending.
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At a review conference held on June 21, Deputy Minister of Construction Nguyen Van Sinh praised the province’s scientific, coordinated, and flexible approach. He noted that the early completion reflects the strong commitment of local authorities, the business community, philanthropists, and residents in improving housing conditions for disadvantaged groups.
The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
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Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
The total investment exceeded 319 billion VND (12.2 million USD), including over 261 billion VND from the state budget and 57.5 billion VND mobilised from businesses, organisations, and individuals.
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With strong support from local authorities, businesses, organisations, and residents, the province has successfully built or repaired 10,707 homes for disadvantaged households, including war veterans, families of martyrs, ethnic minority people, and low-income residents.
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Illustrative image (Photo: vneconomy.vn) 
