The Hanoi People’s Committee has officially approved a consortium led by Viglacera Corporation, Hoang Thanh Infrastructure Investment and Development JSC, and Central Construction JSC as the investor for the Tien Duong 1 Social Housing Project. Located in Phuc Thinh Commune, at the northern gateway of Hanoi along the Nhat Tan – Noi Bai axis, this project marks a significant milestone in affordable housing development.
With a projected investment of VND 8.69 trillion (excluding VND 617 billion for compensation and resettlement), Tien Duong 1 is set to become the largest social housing project in Vietnam to date. The consortium will contribute VND 1.5 trillion, accounting for 16.1% of the total investment, with Viglacera holding 55% (VND 825 billion), Hoang Thanh 30% (VND 450 billion), and Central 15% (VND 225 billion). The remaining VND 7.8 trillion will be sourced from other channels.
Spanning nearly 44.6 hectares, the project is designed to accommodate approximately 12,465 residents, offering 3,530 units, including 3,103 social housing units, 427 commercial apartments, and 99 low-rise townhouses. Construction is slated for completion by 2030, with a 50-year operational term from the land allocation or lease decision.
Viglacera Social Housing Project (Yen Phong Industrial Park, Bac Ninh) developed by Viglacera.
The project received in-principle approval in late 2024, followed by the endorsement of the Expression of Interest results on June 26, 2025. Additionally, the Tien Duong 2 Social Housing Project, with an investment of VND 6.841 trillion, will be developed on a 14.6-hectare site in Phuc Thinh Commune, providing 3,458 units, including 3,344 social housing units.
Both projects are mandated to complete their social housing components by 2030. Investors will benefit from land use fee exemptions and lease waivers as per legal provisions. Hanoi’s social housing supply is rebounding, though prices are trending upward. Multiple projects have commenced since last year, with six expected to complete in suburban areas this year.
Under the national plan to develop at least 1 million social housing units, Hanoi is tasked with delivering 56,200 units by 2030, the highest target nationwide. For 2025, the city aims to complete 4,670 units.
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Hanoi has recently made localized adjustments to the planning of three land plots within the Dang Xa 2 Urban Area.
An Industrial Hub to Foster Employment for 15,000 and Contribute 1.5 Trillion VND Annually
The project is envisioned to be a catalyst for new growth in the southern region of Lao Cai Province. With its strategic location and well-planned development, it promises to bring about positive transformation and enhance the region’s economic prospects, creating a vibrant and prosperous future for its community.
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Viglacera embarks on a strategic journey, revitalizing its construction and mechanical engineering subsidiaries. As part of this transformation, the company plans to divest its stakes in Viglacera Consulting JSC and CTCP Visaho at an opportune time.
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