Hanoi’s authorities are expected to speed up the execution of housing and urban residential projects, focusing on those falling behind schedule during the 2021-2022 period.
| Linh Dam Residential Area. Photo: Cong Hung/The Hanoi Times |
The measure was unveiled in a local authority plan to remedy the deficiencies causing the slow progress of housing development and urban residential projects in the city in 2021-2025.
Under the plan, the city leaders urged districts and wards to supervise contractors to ensure a smooth implementation of projects and their compatibility with the socio-technical infrastructure system in the surrounding areas.
"Localities are required to propose solutions to remove hurdles during the construction, especially those in site clearance," stated the plan.
In line with such efforts, Hanoi expects to allocate a State budget to the construction of socio-technical infrastructure in urban residential areas.
If contractors were unable to carry out the works, the authorities would revoke their investment licenses and select others through bidding. Those who fail to comply with the contract conditions will be blacklisted and prevented from participating in similar projects in the city, read the plan.
In 2023, the city said it is committed to allocating sufficient funds for resettlement and social housing projects for low-income groups, especially workers at industrial parks and clusters, students, and poor households.
Another key task mentioned by the authorities is to complete the city’s revised construction planning appraisal process for the 2021-2030 period.
Hanoi would review the available land portfolio for commercial real estate projects to ensure at least 20% of the areas are allocated for social housing projects; and address investors' concerns during the planning, investment, and construction of housing projects in the city.
Statistics from the Department of Construction revealed that during the 2016-2020 period, Hanoi had built an additional 35 million square meters of housing and attracted investment for 69 real estate development projects for 4.3 million square meters of apartments.
During this period, the city needed 40 housing projects for resettlement with a combined area of 1.3 million square meters of floors. But as of 2021, only 19 had been completed with 371,000 square meters.
For the 2021-2030 period, the Hanoi People’s Council set the goal of mobilizing VND880 trillion ($37.7 billion) for housing projects, including VND11.7 trillion ($501 million) from the State budget.
By 2030, Hanoi would have 5.55 million square meters of social housing, and 100% of industrial parks would provide social housing for laborers.
