Phú Thọ breaks ground on $42 million social housing project

Phú Thọ breaks ground on $42 million social housing project

It is the 22nd social housing project to break ground in the province, adding 950 apartments to the supply of affordable homes in the nothern province..

At the groundbreaking of the social housing project in the Đình Trung Central Park urban area in Vĩnh Phúc Ward. — VNA/VNS Photo Hoàng Hùng

Phú Thọ Province broke ground on a social housing project worth about VNĐ1.08 trillion (US$42 million) on Saturday, adding 950 apartments to the supply of affordable homes in the nothern province.

Developed by a consortium of An Phu Company Ltd and Eco Fire Company Ltd on a site covering more than 13,000sq.m in the Đình Trung Central Park urban area in Vĩnh Phúc Ward, the projects is scheduled for completion and occupation in the first quarter of 2028.

It is the 22nd social housing project to break ground in the province so far.

At the groundbreaking ceremony, Deputy Minister of Construction Nguyễn Văn Sinh urged provincial authorities to continue resolving administrative and procedural bottlenecks to facilitate social housing development.

He called on the investors to mobilise sufficient resources, select capable contractors and ensure construction quality and progress to help meet assigned social housing development targets.

Chairman of he provincial People's Committee Trần Duy Đông said social housing development was essential not only to meeting housing demand but also to ensuring social welfare, stabilising the workforce and supporting local socio-economic development.

The province requires projects to meet construction quality standards, provide coordinated infrastructure and essential amenities, and offer selling prices affordable to residents, he said.

By the end of the third quarter of 2026, Phú Thọ had 41 social housing projects under development, with a combined capacity of nearly 33,500 apartments, of which 35 projects were being implemented.

The province plans to break ground on 12 social housing projects in 2026 with a total of more than 10,500 apartments and nearly VNĐ14.7 trillion in combined investmment.

Phú Thọ aims to complete around 40,000 social housing and rental housing units during the 2026-30 period.

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