At a groundbreaking ceremony for a social housing project (Photo: sggp.org.vn)
HCM City (VNA) - Construction of nearly 1,500 apartments forlow-income people at two social housing projects has started in Ho Chi Minh City.
The projects will help meet the rising demand for affordable housing in thecity, especially from migrant workers, according to the municipal Department ofConstruction.
One of them, Dragon E-Home, will have 764 apartments measuring 25-85sq.m on aland plot of nearly 19,00sq.m in Thu Duc city’s Phu Huu ward.
Developed by Dragon Village Real Estate Joint Stock Company, its constructionbegan on August 30.
The 6,995sq.m MR1 project in Binh Thuan ward in District 7 will have 712 units.It is being developed by the Xuan Mai Sai Gon Construction Investment JointStock Company.
The city will also soon begin renovation and reconstruction of two old apartmentcomplexes in District 1 and Tan Binh district.
They are at 350 Hoang Van Thu in Tan Binh district (with 374 units) and 23 Ly TuTrong in District 1 (160 units).
The city has identified housing as one of the most important factors insocio-economic development.
The municipal People’s Council has passed a resolution for housing developmentin 2021-30 and expects to build 35,000 houses in 2021-25 and nearly 58,000 by2030.
All sectors are encouraged to invest in housing development, especially socialand low-cost housing.
Funding for social housing will mainly come from private enterprises,preferential bank loans and the city's coffers.
The city plans to allocate 3.8 trillion VND (160 million USD) for socialhousing in 2021-25 and 8.6 trillion VND (366.8 million USD) for the next fiveyears.
The People's Council is set to establish a working team to monitor thedevelopment of social housing in the city in 2016-25./.
Ho Chi Minh City expects to build about 35,000 social housing units with 2.5 million square metres of floor space in 2021-2025, and nearly 58,000 units with a floor space of 4.08 million square metres by 2030.
Prime Minister Pham Minh Chinh chaired a conference on August 1 to discuss measures to expand social housing facilities for workers and low-income earners.
The Ministry of Construction has been asked to work with other ministries and sectors to draft and submit a plan to build at least 1 million apartments of social housing for workers and low-income earners between now and 2030 to the Government in August.
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At a groundbreaking ceremony for a social housing project (Photo: sggp.org.vn) 
