HÀ NAM — The Housing and Urban Development Corporation has begun construction of a social housing project in the northern province of Hà Nam.
Spanning 4.9ha in Duy Tiên Town, the project comprises four blocks with 564 apartments and some low-rise houses. The project’s apartments will cost at least VNĐ380 million (around US$16,300) each.
During the project’s ground-breaking ceremony last week, Minister of Construction Nguyễn Thanh Nghị said the State has always paid attention to developing affordable housing projects in order to address the housing needs of the social assistance beneficiaries and low-income earners.
Chairman of the provincial People’s Committee Trương Quốc Huy said the project will better meet the needs for affordable apartments of employees working in Duy Tiến Town and Hà Nam Province as well.
The country needed an estimated VNĐ220 trillion ($9.6 billion) to build about 294,600 units of social housing for low-income earners in urban areas and industrial parks in the 2021-25 period, according to the Ministry of Construction.
Notably, low-income people in urban areas needs about 131,100 units with a total investment of about VNĐ138 trillion.
There are 266 social housing projects with more than 142,000 units across the country, totalling more than 7.1 million sq.m. Another 278 projects with 274,000 units and a total area of 13.8 million sq.m are under development. — VNS