Four Social Housing Projects to be Completed This Year: Over 3,200 Units Soon to Hit the Market

At the seminar, Mr. Ha Quang Hung, Deputy Director of the Housing and Real Estate Market Management Department, Ministry of Construction, said that according to Decision 444/QD-TTg, the whole country aims to complete 100,000 social housing units by 2025. Up to now, according to local reports, 71,200 units are expected to be completed, achieving approximately 71%.

In the past time, Deputy Minister Nguyen Van Sinh chaired a working delegation of the Ministry of Construction to inspect and urge 20 localities. These 20 localities have a target of more than 60,000 social housing units, with an expected completion of 52,200 units (87%).

In Hanoi, there are 7 social housing projects that have selected investors and are being implemented. Of these, 1 project was completed in the first quarter of 2025, which is the project to build a social housing area for officers and soldiers of the Ministry of Public Security in Co Nhue 2, Bac Tu Liem district, with a scale of 1,340 units.

Of the remaining 6 projects, 4 projects are expected to be completed in 2025, including: Kim Hoa Urban Area project in Me Linh district by Than Ha Trading and Construction Company as the investor, with a scale of 720 units; The project of residential area in Uy No, Dong Anh district by Corporation 319 – Ministry of National Defense as the investor, with a scale of 952 units; Thanh Lam – Dai Thinh new urban area project with a scale of 500 units; Project for investment in social housing construction in Kim Chung new urban area in Dong Anh district by the Joint Venture of Viglacera Corporation and Hanoi Housing Development and Investment Corporation as the investor, with a scale of 1,104 units.

The two other projects being implemented have more specific conditions. In particular, the Upper Thanh Social Housing project by Him Lam Thu Do Joint Stock Company and BIC Vietnam Joint Stock Company as the investor, with a scale of 1,980 units, has a basement and 22 floors, and has just started the basement. If the investor concentrates on 3 shifts and 4 groups, the rough construction can also be completed this year, requiring the facilitation of the local government and the strong commitment of the investor.

As for the social housing project at NO1 land plot in Ha Dinh new urban area in Tan Trieu, Thanh Tri district, with a scale of 440 units, it is currently constructing a basement and it is difficult to complete it in 2025 due to limited construction conditions caused by the narrow land area and time constraints due to its location in the central area.

The Ministry of Construction has also notified the Hanoi People’s Committee about the above progress. Then, the Hanoi People’s Committee has issued a document urging the investors. We appreciate Hanoi’s determination and look forward to the coordination between the investors and the local authorities and branches to ensure the committed progress, Mr. Hung assessed.

In addition, Mr. Hung pointed out 6 main reasons why localities have not met the social housing targets assigned by the Prime Minister.

First, up to now, the law has been perfected, but the implementation still depends on the attention of local authorities. Many localities have not paid due attention, despite the clear directions of the Politburo, the resolutions of the Party Central Committee, the directions of the Prime Minister, and Scheme 338. Currently, only about 22 localities have included social housing development targets in their socio-economic development targets.

Second, the Housing Law 2023 just took effect from January 1, 2025, so it will take time to perform administrative procedures. A real estate project, even if it is fast, will take 2-3 years to see results. Although the legal regulations have been loosened, the administrative procedures are still carried out according to the related process, and the implementation of social housing projects is even more complicated than commercial housing projects.

Third, what is the quality of the land fund, is the location convenient and has technical infrastructure, does it need to be cleared?

Fourth, how do localities base on the Law on Housing 2023 to cut administrative procedures and give incentives to investors?

Fifth, investors have not focused on implementing their commitments, leading to an insufficient supply. Investors are listening to the market and waiting to see how the market absorbs the products.

Sixth, there is a lack of financial institutions for social housing development for rent.