On August 6, Hoang Quan announced that 171 apartments in Blocks 3C and 3D of the HQC Tan Huong social housing project are eligible for sale and rent-to-own as future formed houses.
The HQC Tan Huong social housing project covers an area of 14,190 square meters in Tan Huong commune, Chau Thanh district, Tien Giang province. It is adjacent to the Tan Huong Industrial Park (over 197 hectares) and the Long Giang Industrial Park (540 hectares), with HQC as the investor.
The project comprises four blocks (Blocks A and B with 10 floors, and Blocks C and D with 5 floors) and two auxiliary blocks, for a total of 629 apartments accommodating around 1,800 residents. The total investment is estimated at VND 559 billion.
HQC Tan Huong Social Housing Project
|
According to the investor’s website, the selling price of the social housing is VND 16.5 million per square meter, with areas ranging from over 38 to 59 square meters. This means that prospective homeowners will need to spend approximately VND 630-980 million to own an apartment.
|
Tien Giang province’s housing development plan for 2024 sets a target of completing 24,283 units, including 1,070 commercial and urban area units and 629 social housing units.
Information from the Ministry of Construction indicates that in the period 2021-2025, Tien Giang will implement 3,100 social housing units with an area of about 19 hectares. Of these, three projects have been approved for investment but not yet implemented, accounting for 1,295 apartments, and two projects have been licensed for construction, comprising 790 units. From 2021 to the end of May 2024, the province completed 203 social housing apartments. |
In terms of business performance, HQC reported a net profit of nearly VND 11 billion in the second quarter of 2024, the highest in 20 quarters (since the second quarter of 2019). Combined with the results of the first quarter, the net profit for the first half was nearly VND 13 billion.
In March, Hoang Quan also successfully merged with and acquired the Golden City social housing project in Tay Ninh province. The project, covering an area of 3.35 hectares, is invested by Tay Ninh Golden City Investment Joint Stock Company (in which HQC holds 98.04%). With a total investment of VND 1,777 billion, the project includes seven 16-story apartment blocks with 1,642 apartments. Hoang Quan has invested VND 1,000 billion in this project.
HQC: Second-quarter profit reaches nearly VND 11 billion
In the afternoon session on August 7, HQC shares were trading around VND 3,480 per share, down more than 16% since the beginning of the year, with an average liquidity of over 6.7 million shares per session.
| Price movement of HQC shares since the beginning of 2024 |
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
Danang demolishes “waiting-to-collapse” apartment buildings
Three apartment complexes that were allocated for rent by the Da Nang City Hall since 2001 are now severely deteriorated and in need of relocation.
The truth about the State Bank banning loans for future home purchases
Due to the recent regulations issued by the State Bank, many individuals are concerned about their ability to obtain loans for future housing purchases starting from July 2024. The State Bank has provided more detailed information regarding these new regulations.
Challenging to Get Affordable Loans for Social Housing
The discrepancy between legal regulations and lending policies of banks has made it difficult for businesses to access favorable loans for social housing development.
Converting 150 commercial houses to affordable housing, prices starting from 450 million VND per unit.
The Provincial People’s Committee of Ba Ria – Vung Tau has purchased and converted 150 commercial houses into social housing. The price to rent or buy a 70m2 house starts from 450 million VND.
