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Ministry proposes US$2.85 bln credit package for social housing development

VGP – The Ministry of Construction has proposed a credit package worth VND 65 trillion (US$ 2.85 million) for social housing development as part of a plan on sustainable economic recovery in 2023.

October 29, 2021 10:05 PM GMT+7

A recent survey conducted by the ministry shows around 294,600 apartments need to be built between 2021 and 2025 with total investment capital of VND 220 trillion.

Specifically, the country needs to build 131,100 apartments for low-incomers in urban areas and 163,500 apartments for industrial workers, the ministry added.

There are 266 social housing projects with more than 142,000 units totaling more than 7.1 million square meters. Another 278 projects including 276,000 units with a total area of 13.8 million square meters are under development.

Cities and provinces have completed 121 social housing projects with 54,000 units for workers of industrial parks and are building 100 other projects with 134,000 units.

However, since early this year, no social housing projects for workers have been completed due to the COVID-19 pandemic.

By Kim Anh