Hanoi to spend 437 trillion VND on housing development until 2025

Update: 12:52 | 25/02/2023

Hanoi will spend 437 trillion VND (18.3 billion USD) on housing development in the 2021-2025 period.

Under a housing development plan between 2021 and 2025 which has been approved by the municipal People’s Committee, the city targets the average housing floor area per person to be 29.5 sq.m. The size of dwelling in the urban areas is 31 sq.m per person and 28 sq.m per person in rural areas.

Hanoi, 437 trillion VND, housing development, housing development plan, rural area,  renovation of old buildings

Hanoi to spend 437 trillion VND on housing development until 2025.

The capital city also plans to develop 0.55 million sq.m of floor areas for resettlement purposes and speed up the renovation of old buildings, especially those deemed dangerous for living.

Regarding commercial projects, the city will strive to complete 109 projects that are capable of finishing in 2021-2025 with 19.4 million sq.m of floor.

Hanoi will continue to remove makeshift houses and raise the permanent housing rate in the city to 90%.

Of the total investment of 437 trillion VND, 5.8 trillion VND will be used for social housing, resettlement housing projects, and apartments upgrading. The investment will be sourced from the city’s budget.

The city will also mobilise social resources for the development of commercial houses and other real estate projects.

The municipal People’s Committee requested agencies comply with the city's housing development plans to ensure a balance between housing supply and demand as well as fulfil the set targets.

Legal documents will be reviewed to remove difficulties and problems relating to housing and construction investment management of infrastructure works, it said.

The city will also issue preferential mechanisms and policies to support construction investment for technical and social infrastructure works in social housing and resettlement areas towards civilisation and modernity in order to ensure the quality of life and affordable for local residents.

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(BGO) – The People’s Committee in Bac Giang province has issued Decision to approve for the housing developing plan in 2022 and 2021 – 2025 period in the province. Accordingly, Bac Giang will implement 379 housing projects in 2022, including 356 urban and residential area projects and 23 apartment ones.
At least 1 million housing units for low-income earners to be built by 2030
Prime Minister Pham Minh Chinh has asked the Ministry of Construction to work together with other ministries and agencies to draft and submit a plan on building at least 1 million apartments of social housing for workers and low-income earners by 2030 to the Government in August.
Bac Giang removes obstacles, puts social housing projects in use
(BGO) – The industry has strongly developed in the northern province of Bac Giang for recent years leading to sharp increase of housing demand for labours. To handle this issue, the province has approved and implemented many social housing projects for workers (SHP) to raise the local investment attraction. The implementation proved initial positive results together with some obstacles.
Bac Giang to pay housing rent support for labours before August 25
(BGO) – The Pemanent Vice Chairman of Bac Giang provincial People’s Committee Mai Son on August 14 inked urgent correspondence No.3936/UBND-KGVX urging to complete the target of Decision No.08/2022/QD-TTg on March 28 of Prime Minister about implementing housing rent support for labours (Decision 08).
99 percent of labours with approved decision receive housing rent support
(BGO) - Implementing Decision No.08/2022/QD-TTg on March 28 of Prime Minister about implementing housing rent support for labours (Decision 08), so far Bac Giang city and three districts of Viet Yen, Yen Dung and Hiep Hoa have received proposals from 596 turns of businesses to support more than 171,200 turns of labours with total amount of nearly 88 billion VND (3.76 million USD).

Source: VNA

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