HCMC to spend $1.6 bln on social housing development

In 2022 alone, it will earmark 52.1 hectares of land out of a proposed total of 173.5 ha for the purpose and spend some VND698 billion on building housing, according to its Department of Construction.

The plan is to develop two social housing projects with a total of 379 apartments in urban districts and eight more with 9,594 apartments in the five rural districts of Binh Chanh, Cu Chi, Hoc Mon, Nha Be, and Can Gio.

It will also encourage people to build boarding houses for workers to rent.

The city also plans to build commercial housing on a total area of 800.9 hectares with an investment of VND566.98 trillion in the same period.

The average housing area per capita will increase to 23.5 m2 in 2025 from 20.65 m2 in June 2021, according to the department.

The national demand for low-income urban housing and housing for workers in industrial zones in that five-year period is estimated at 294,600 units.

They will cost around VND220 trillion to build.