Unlocking Affordable Housing: 3 New Projects Eligible for the VND 120,000 Billion Loan Package

On March 17, the People’s Committee of Binh Dinh province announced that it had reported to the Ministry of Construction and the State Bank of Vietnam on three additional social housing projects in Quy Nhon city that meet the requirements and criteria to benefit from the VND 120,000 billion credit package as per the Government’s Resolution No. 33/NQ-CP dated March 11, 2023.

Specifically, the Long Van social housing project, developed by LICOGI13 Thuan Phuoc Two Member LLC, is located in Tran Quang Dieu ward, Quy Nhon city, and requires a loan of VND 450 billion. The project covers an area of over 20,000 square meters with a total investment of over VND 781 billion. It was commenced in 2021 and is expected to be completed by 2026, offering a total of 838 apartments.

The Phu Tai Loc social housing apartment project in Tran Quang Dieu ward, carried out by Binh Dinh Industrial Construction Joint Stock Company, requires a loan of VND 200 billion. This project has a construction area of 4,700 square meters, comprising 285 apartments, and a total investment of VND 358 billion. It is expected to be completed in the fourth quarter of 2025.

The Pisico social housing project in Tran Quang Dieu ward is led by Pisico Binh Dinh Corporation – Joint Stock Company as the investor. With a construction area of over 5,800 square meters, the project offers a total of 321 apartments and has an investment of over VND 263 billion. It is expected to be completed in the fourth quarter of 2025, with a loan requirement of VND 161 billion.

Over the years, Binh Dinh province has made significant efforts to develop multiple social housing projects to meet the housing needs of its residents, especially those with low incomes and workers.

Speaking to Tien Phong newspaper, the leader of the Binh Dinh Department of Construction shared that according to the target assigned by the Prime Minister in Decision No. 338/QD-TTg dated April 3, 2023, approving the project “Investing in building at least 1 million social housing units for low-income people and industrial park workers for the period 2021 – 2030,” by 2030, Binh Dinh province is expected to complete 12,900 social housing units.

Up to now, Binh Dinh has finished seven projects and a third of another project, providing 4,427 units. Additionally, four projects and a third of another are under construction, offering 4,959 units.

Furthermore, six projects with 2,572 units have been selected for investors and are undergoing investment preparation procedures. The province is also in the process of selecting investors for another 3,073 units, expected to be finalized in 2025-2026.

At present, Binh Dinh province has 11 social housing projects and one old apartment renovation project that meet the conditions and criteria to benefit from the VND 120,000 billion credit package as per the guidelines of the State Bank of Vietnam and the Ministry of Construction. The total loan requirement for these projects is approximately VND 3,996 billion.