Nha Trang gets 16 million USD social housing project
The Housing and Urban Development Corporation (HUD) has started construction of a new 16.2 million USD social housing project in central coastal Khanh Hoa province’s Nha Trang city.
The groundbreaking ceremony of the new social housing project in the Phuoc Long new urban area in Nha Trang City. (Photo baoxaydung.com.vn)
Hanoi (VNA) - The Housing and Urban Development Corporation (HUD) hasstarted construction of a new 16.2 million USD social housing project in centralcoastal Khanh Hoa province’s Nha Trang city.
Theproject spans an area of 1.8ha in the Phuoc Long new urban area, comprising ofthree 10-storey apartment buildings. Each apartment has an area of 59-66sq.m.
HUD,under the Ministry of Construction, is waiting for the provincial People’sCommittee’s approval for the pricing plan of the project, with the averageprice of an apartment under 9.5 million VND per sq.m.
Locatedin the west of the city, the project is connected to regional residentialareas, factories, universities, attracting a large number of citizens, studentsand workers who have high demand for affordable housing, especially housingwith an average price that is below 10 million VND per sq.m.
Atthe project’s groundbreaking ceremony, Deputy Minister of Construction Bui PhamKhanh said the project, once completed, would meet the demand for housing ofpoor and low-income households currently living in Nha Trang city, creatingfavourable conditions for them to improve their living standards.
TheMinistry of Construction has asked HUD to focus on the management of theproject’s construction and quality and make ensure citizens get their newhouses as scheduled.
Accordingto Dao Cong Thien, Vice Chairman of the provincial People’s Committee, from nowuntil 2020, Khanh Hoa needs 15,000 affordable apartments and, so far, it hasimplemented a total of 11 affordable housing projects with 5,733 apartments.
“Althoughthe price, fluctuating at some 9 million VND per sq.m. seems reasonable, but intotal, people have to spend 600 million VND to buy a 60 to 70sq.m. house, whichmay still be a strain for them. Therefore, investors, in the future, shouldconsider building smaller apartments, such as from 30 to 40sq.m, to meet thedemands of people from lower income groups," Thien said.
Thienadded that Khanh Hoa province will create favourable conditions for investorsand solve any problems related to project development.-VNA
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The groundbreaking ceremony of the new social housing project in the Phuoc Long new urban area in Nha Trang City. (Photo baoxaydung.com.vn) 
