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Unlocking Homes for All: Social Housing Projects Take Center Stage in October’s Property Releases

8 November, 2024

Da Nang: 1 project

In early October, the Da Nang Department of Construction announced that 941 apartments at the Peninsula Da Nang project, located in Ward A2-1 of the Nại Hiên Đông Fish Village in Nại Hiên Đông Ward, Sơn Trà District, were approved for sale as off-plan properties. The developer is Dong Do Group JSC.

The project covers an area of nearly 7,168 square meters, comprising three basement levels and 30 floors above ground, for a total of 941 apartments. According to our sources, the apartments range from 45 to 269 square meters, with an average selling price of approximately VND 52 million per square meter.

Peninsula Da Nang project construction progress as of July 2024

Thai Binh: 3 projects, including 1 social housing project

On October 15, the Thai Binh Department of Construction announced that the remaining 57 social housing apartments in the social housing project located in Zone C of Vu Phuc Residential Area, Thai Binh City, developed by Import-Export Investment JSC, are eligible for rent. The application period starts from October 15, 2024.

The project consists of two nine-story buildings, with the first and second floors dedicated to commercial services, and the third to ninth floors comprising 349 social housing units for sale, 80 social housing units for rent, two commercial service apartments, and 67 commercial housing units for sale. The apartment sizes range from 37 to 60 square meters.

According to the Department of Construction, 23 applications from eligible households and individuals have been approved for the 57 rental units.

On October 8, the Thai Binh Department of Construction announced that 76 land plots of low-rise buildings in the commercial housing development project located in the reclaimed land of Thai Binh Petroleum Investment and Trading JSC in Vu Chinh Ward met the requirements for sale and pre-construction sale.

The project covers a total area of over 3.68 hectares, featuring 76 low-rise buildings (53 shophouses and 23 villas) and a 14-story commercial building. It is expected to accommodate around 1,000 residents, with a total investment of more than VND 505 billion. The developer is Import-Export Investment JSC.

Earlier, on October 2, Thai Binh approved the sale of 127 land plots with completed infrastructure in the new Riverside residential area in Vu Quy – Vu Trung, Kien Xuong District.

The project covers a total area of over 3.3 hectares, including 179 shophouses and 105 social housing apartments, with an expected population of about 1,136 residents. The total investment amounts to nearly VND 172 billion, and the developer is Petroleum Construction and Investment JSC.

Kien Giang: 1 project

On October 28, the Kien Giang Department of Construction announced information about off-plan properties eligible for sale and pre-construction sale in the first phase of the Meypearl Harmony luxury mixed-use apartment project, comprising 860 units across three apartment blocks (HH1.2 with 313 units, HH1.3 with 149 units, and HH1.4 with 398 units).

The project covers a total land area of over 1.7 hectares, with a construction area of 7,343 square meters (including three apartment blocks and one hotel block) located in Ward 7, An Thoi Ward, Phu Quoc City. The developer is Ham Ninh Kien Giang Real Estate Investment and Development JSC.

The total net area for sale and pre-construction sale is nearly 53,345 square meters, equivalent to 1,115 commercial apartments. According to our sources, the selling price is about VND 65 million per square meter. With sizes ranging from 29 to 90 square meters, buyers will need to spend approximately VND 1.9-5.9 billion to own an apartment here.

Meypearl Harmony luxury mixed-use apartment project

Hoa Binh: 1 project

In October, the Hoa Binh Department of Construction announced that 53 land plots in the Da Bac Town Residential Area project (phase 1) in Mu, Da Bac Town, Da Bac District, met the requirements for sale and pre-construction sale.

According to Decision No. 3899 dated December 30, 2020, of the People’s Committee of Da Bac District, Lien Viet Hoang Gia Real Estate Investment Management JSC won the auction for a plot of land of nearly four hectares in the above project, with a price of nearly VND 29 billion.

The Da Bac Town Residential Area project in Da Bac District has been approved by the provincial People’s Committee for a 1/500 detailed planning, and Decision No. 126/QD-LVHG dated December 6, 2023, of Lien Viet Hoang Gia Real Estate approved the investment project for construction of model houses in the Da Bac Town Residential Area project (phase 1) in Mu, Da Bac Town, Da Bac District. The developer has also fulfilled their financial obligations to the state.

Thai Nguyen: 1 social housing project

On October 9, the Thai Nguyen Department of Construction announced that 395 social housing units, including 361 apartments (in an 18-story building) and 34 semi-detached houses (two stories) in the Dai Thang Residential Area project, Dong Tien Ward, Pho Yen City, developed by TNG Land JSC (TNG owns 48.81%), met the conditions for sale and pre-construction sale.

The project is built on an area of 8,432 square meters, with construction starting in the second quarter of 2024 and expected to be completed by the first quarter of 2028. It is expected to accommodate 763 residents, with a total investment of over VND 275 billion. The tentative selling price is about VND 13.7 million per square meter.

Currently, the 18-story social housing building has completed the foundation and is constructing the sixth floor, while the low-rise social housing has reached the roof. This is the first social housing project in Thai Nguyen that meets the conditions for off-plan properties. Upon completion, the project will provide 395 housing units for beneficiaries eligible for housing support under the law.

Construction progress of social housing in the Dai Thang Residential Area project

Hung Yen: 2 social housing projects

On October 16, Hung Yen Housing Development and Investment JSC, the developer of the social housing project for low-income earners in Hien Nam Ward, Hung Yen City, sent a notice to the provincial Department of Construction regarding the sale of seven social housing units to buyers, tenants, and lessees. The sale period is from October 16 to November 16, 2024. Previously, the developer had also sold nine social housing units.

Also, in October, Lac Hong Phuc Development and Investment JSC sent a document to the Hung Yen Department of Construction, requesting the publication of information for customers to register to buy, rent, or lease 126 social housing units in the Lac Hong Phuc social housing and commercial housing development project in Nhan Hoa Ward, My Hao Town. The deadline for application submission is November 7, 2024.

In the first nine months of 2024, Lac Hong Phuc JSC announced the sale of a total of 316 social housing units in the project. The apartments range in size from 47 to 60 square meters, with prices announced in previous sales ranging from over VND 11.5 million to VND 13.5 million per square meter, equivalent to about VND 600-800 million per unit.

Bac Giang: 3 social housing projects

On October 29, Fuji Bac Giang Development JSC, representing the joint venture between Fuji Bac Giang Development JSC and Vinaco Investment and Construction JSC (the developer of the project), reported and requested the Bac Giang Department of Construction to publish information about the sale, rent, and lease of social housing units in the social housing project for workers in Noi Hoang, Yen Dung District.

There are a total of 2,409 units for rent at a rate of VND 93,300 per square meter per month (including 5% VAT and 2% maintenance fee). The expected application period will start from November 15, 2024.

The project consists of 10 buildings, including four six-story buildings and six 18-story buildings, with a total construction area of over 14,888 square meters and 2,802 units (each unit has an area of 30-32.5 square meters).

Social housing project for workers in Noi Hoang, Yen Dung, Bac Giang

Also, in October, the joint venture between Saigon-Hai Phong Industrial Zone JSC (a subsidiary of KBC) and Evergreen Bac Giang Sustainable Development Investment JSC reported and requested the Bac Giang Department of Construction to publish information about the rent of social housing units in building CT1.4 of the social housing project for workers in the new urban area of Nen Town, Viet Yen District.

There are a total of 142 units for rent in building CT1-4 at a rate of VND 99,500 per square meter per month (including 5% VAT and 2% maintenance fee).

The project is built on Lot CT.1 and CT.2, with a total area of over 3.2 hectares, in the detailed planning of the new urban area of Nen Town, Viet Yen District. It comprises 20-story apartment buildings with a usable area of 25-70 square meters, meeting the housing needs of about 12,000 people.

Currently, the project has completed the construction of five buildings and technical infrastructure outside the CT1 lot and is in the process of constructing five buildings and technical infrastructure outside the CT2 lot, with expected completion and operation in the fourth quarter of 2025.

On October 3, Vega Investment JSC announced that the social housing project for workers in Quang Chau, Viet Yen District (Vega Homes), covers an area of nearly 4.3 hectares and includes three 18-story social housing buildings and one 18-story commercial building. The project started in the fourth quarter of 2021 and is expected to be completed in the first quarter of 2025.

There are a total of 1,236 social housing units, with 80% of the social housing area for sale and 20% for rent. The average selling price of social housing is expected to range from VND 13 million to VND 15 million per square meter (including VAT, excluding maintenance fees).

Hai Phong: 2 projects

On October 30, the Hai Phong Department of Construction announced that 24 commercial housing units in the form of terraced houses that are formed in the future meet the conditions for business in the new urban area and urban renovation project in Dong Hoa Ward, Kien An District (phase 2), developed by Van Phuc Dien Real Estate Investment and Development Co., Ltd. In the first phase, the developer is allowed to sell 182 out of 206 low-rise houses.

The project is implemented on an area of over 8.2 hectares, building terraced houses with 206 units and a mixed-use high-rise area expected to construct a 20-story apartment building, serving more than 4,000 residents. The construction is expected to be completed in the third quarter of 2026.

Earlier, on October 28, the Hai Phong Department of Construction announced that 20 commercial housing units in the form of terraced houses that are formed in the future meet the conditions for business in the urban renovation and commercial housing construction project in Quan Toan Ward, Hong Bang District (phase 1), with the commercial name Hong Bang Midtown, developed by TADUGO Investment and Consulting Co., Ltd.

Hong Bang Midtown covers a total area of nearly 1.3 hectares, comprising 75 townhouses with a maximum height of five stories. The total investment amounts to nearly VND 139 billion.