The Ho Chi Minh City Department of Construction has released a call for investment in social housing projects within the city. Out of the 7 planned social housing projects, 2 projects with a total area of 21,640 sq. m (840 apartments) and a total investment of VND 868 billion, and 5 plots of land intended for the promotion of social housing construction with a total area of 252,140 sq. m, are expected to yield 2,962 apartments with a total investment of VND 3,059 billion.
The two social housing projects open for investment invitations are located in Truong Thanh Ward (Thu Duc City) with a total area of 9,804 sq. m, designed as a 6-story building with 4 apartment blocks comprising 300 apartments, and Lot No. 6 in the 38-hectare resettlement area in Tan Thoi Nhat Ward (District 12) with a total area of 11,836 sq. m, expected to be a 12-story building with 540 apartments.
The 5 plots of land intended for the promotion of social housing construction have a total area of 25,140 sq. m and are expected to yield 2,962 apartments with a total investment of VND 3,059 billion. Specifically, the plot of land at 360 Ben Van Don (Ward 1, District 4) has an area of 7,284 sq. m and is expected to have 315 apartments with a total investment of VND 347 billion. The plot of land at 61B on Street No. 16 (Ward 1, District 4) has an area of 3,784 sq. m and is expected to have 230 apartments with a total investment of VND 253 billion.
Ho Chi Minh City calls for investment in 7 social housing projects.
The plot of land at Lot 1-1, Map Sheet No. 24, Phuoc Long B Ward (Thu Duc City) has an area of 8,872 sq. m and is expected to have 192 apartments with a total investment of VND 180 billion. The plot of land in Long Thanh Ward (Thu Duc City) has an area of 30,500 sq. m and is expected to have 1,225 apartments with a total investment of VND 1,125 billion. The plot of land in Long Thanh Ward (Thu Duc City) has an area of 201,700 sq. m and is expected to have 1,000 apartments with a total investment of VND 1,054 billion.
According to the Ho Chi Minh City Housing Development Program for the period of 2021 – 2030 and the Government’s proposal to build at least 1 million social housing units for low-income earners and industrial park workers for the period of 2021 – 2030, Ho Chi Minh City plans to develop approximately 69,700 – 93,000 social housing units. Of these, 26,200 – 35,000 units are expected to be completed by 2025. However, from 2021 up to now, there are only 10 projects in the city with 6 completed and 4 under construction, totaling about 6,000 apartments. The delay in implementation is due to challenges related to planning, investment approval procedures, and land issues, among others.
In a discussion with Tien Phong, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), stated that never before has social housing been discussed so frequently and received such great attention from society. The current policies on social housing are the best that we have formulated so far.
The optimal solution for developing social housing is to mobilize all resources, including the 20% land fund in all commercial housing projects where developers are required to build social housing within their projects. Additionally, many developers wish to exchange the area of land designated for social housing obligations in commercial housing projects for land of equivalent value in other locations.
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The Hanoi People’s Committee has identified 712 non-budgetary capital projects that have been delayed due to land-related issues. In response, they have formulated a plan to address and resolve these delays.
Why Does Dong Nai Propose Building a Tunnel Across the River Instead of Cat Lai Ferry?
Prime Minister Pham Minh Chinh has approved the plan to construct a tunnel to connect Dong Nai province and Ho Chi Minh City, replacing the Cat Lai Bridge. This decision comes after a proposal from the People’s Committee of Dong Nai province, showcasing the government’s commitment to enhancing connectivity and infrastructure development in the region.
The Housing Prospect: 70,000 Social Homes
With the support and collaboration of businesses, Ho Chi Minh City has the opportunity to meet its social housing development targets by 2030. This ambitious goal is within reach, and with the right strategies and partnerships, the city can provide much-needed affordable housing for its residents, creating a brighter and more inclusive future for all.
Why Aren’t Buyers Willing to Invest in Real Estate?
“Housing prices are a significant barrier for prospective homeowners, despite the increasing demand for housing and favorable loan interest rates.” said Dr. Can Van Luc, Member of the Monetary and Financial Policy Advisory Council.
The Capital’s Land Allocation: Auctioning Off 30,500 sqm for Social Housing Development
The recent allocation of land in Tam Hung, Thanh Oai district, by the Hanoi People’s Committee, marks an exciting development. Out of the total area of ​​nearly 30,500 square meters, almost 10,000 square meters of residential land will be auctioned, with an additional 5,000 square meters designated for social housing construction. This news signals potential opportunities for investors and developers, as well as a positive step towards addressing housing needs in the area.
