Hanoi saves land for social housing
Hanoi is expected to require capital of VND12.5 trillion (US$508 million) to develop social housing projects by 2025.
Hanoi is expected to require capital of VND12.5 trillion (US$508 million) to develop social housing projects by 2025.
In the 2021-2025 period, Hanoi expects to speed up the construction of 22 social housing projects and complete the preparation for others with a combined floor area of 1.21 million square meters.
The Hanoi Development Investment Fund has signed four MoUs to provide loans worth VND1.4 trillion (US$60 million) to property developers.
The city would continue to explore opportunities to build new social housing projects to meet growing public demand.
The Vietnamese Government has called on the business community to develop social housing projects and make suggestions to remove difficulties and obstacles in the implementation of projects.
The city expects to build another 44 million square meters of floors in the 2021-2025 period to meet the growing demand for housing from the locals.
Not only there is an imbalance in the structure of property supplies in the market, but the number of new projects has also been on the decline in the past three years.