Khanh Hoa to build $43 million social housing complex

Apr 20th at 08:10
20-04-2023 08:10:36+07:00

Khanh Hoa to build $43 million social housing complex

Early this month, Khanh Hoa People's Committee approved the revised investment policy and the investor for the Hung Phu II social housing project in Nha Trang.

 

The project will cover a total land area of almost 6,900 square metres.

The procedures for granting a construction permit are set to be completed by the first quarter of 2024, and the housing complex should be in use by March 1, 2025.

The project's funding must be secured without relying on the state budget.

Khanh Hoa People's Committee also requires the project developer – the privately held Nguyen Hanh Construction Investment Design Consultant Co., Ltd. – to strictly adhere to the provisions of the laws on investment, planning, land, environment, construction, and fire prevention and fighting, among others.

The project’s duration is 50 years, starting from the date Khanh Hoa People's Committee issued the project’s investment policy.

In light of the investment certificate issued by the Khanh Hoa Department of Planning and Investment, the Hung Phu II social housing project will have a total investment value that surpasses $43.4 million, leveraging the investor’s equity, commercial loans, and other legitimate capital sources.

The project’s duration is 50 years, starting from the date Khanh Hoa People's Committee issued the project’s investment policy.

The investor is responsible for contacting the Khanh Hoa Tax Department to determine the specific incentives for the project in accordance with current laws.

vir



NEWS SAME CATEGORY

Ministry proposes allowing foreigners to buy, own houses in Vietnam

The Ministry of Construction has proposed the Government allow foreigners to buy and own houses in Vietnam in the draft Housing Law (amended).

Lenders must embrace responsibility to real estate

The banking system is under pressure to assist the real estate market through recent turbulence. Dr. Le Xuan Nghia, member of the National Financial and Monetary...

Specific gains still out of reach for real estate rejuvenation

The real estate market is still in a downturn, facing difficulties with legal and capital bottlenecks, low liquidity, high inflation, high interest rates, and high...

Gamuda Land’s strategic regional expansion

Malaysian real estate developer Gamuda Land has been expanding its quick turnaround project strategy to deliver higher returns. Angus Liew, chairman of Gamuda Land...

Viet Nam's nursing home real estate has bright future: Association

Viet Nam's nursing home real estate market promises strong growth in the future because the aging rate is increasing while this housing segment is not yet...

Ministry removes condo ownership time limit regulation in latest draft law

The Ministry of Construction (MoT) has eliminated a proposal to implement a time limit on apartment ownership in its latest draft Housing Law.

Data key to developing smart city in HCM City

Building digital data has been identified as a core element in HCM City’s digital transformation and smart-city development, and the city has begun a data building...

Hanoi to add 4.1 million sq.m to housing space by 2023

To meet the needs of people in different income brackets, the city will focus on building satellite cities and areas expected to become urban districts between 2021...

Hanoi housing prices will continue to rise

According to an annual report published on April 12 by the Vietnam Institute of Real Estate Research, the price of apartments in the middle and upper price ranges...

Vietnam's parliament to scrutinize real estate, social housing markets

The difficulties in the real estate sector may have contributed to Vietnam's lower-than-expected GDP growth in the first quarter (3.32%).

Real estate stocks

Construction stocks


MOST READ


Back To Top