Hai Phong breaks ground on over 2,500 social housing units
Hai Phong breaks ground on over 2,500 social housing units
The administration of Hai Phong City in northern Vietnam on Sunday broke ground on a 10 block social housing project, with a total of 2,538 apartments in An Duong District.
The social housing project, part of the Trang Due urban area, commercial service, and social housing project, will span Le Loi and Quoc Tuan Communes in the district, with Saigon - Hai Phong Industrial Park Joint Stock Company being the developer.
The project, which will cost more than VND1.594 trillion (US$68.5 million), includes ten 15-story buildings. Each apartment will have a total area of 26-55 square meters.
Low-income earners will be prioritized to buy the budget apartments and given support in accessing bank loans to buy the homes.
The project is slated for completion in the final quarter of 2025.
The municipal administration underlined the importance of the project to fulfill its goals of satisfying the demand for low-cost apartments, offering affordable accommodations to low-income earners as well as helping manufacturing businesses maintain stable human resources.
Nguyen Duc Tho, vice-chairman of the Hai Phong People’s Committee, said the northern port city was assigned by the prime minister to develop 33,500 budget apartments during the 2021-30 period.
