The first social housing project in Ho Chi Minh City received a loan from the 120,000 billion VND package.

Thu Thiem Green House social housing project is eligible for a preferential interest rate package 1.5-2% lower than the average interest rate for medium and long-term loans from 4 banks that have committed to a 120 trillion VND credit package for social housing loans.

After more than 1 year of implementing the 120,000 billion VND preferential loan package to develop social housing, workers' housing and renovate old apartments, Ho Chi Minh City has had its first social housing project to receive loans.

According to Mr. Nguyen Duc Lenh, Deputy Director of the State Bank of Vietnam, Ho Chi Minh City branch, the social housing project for workers to rent in the industrial cluster in Thanh My Loi ward, Thu Duc city has been granted a credit limit of VND 680 billion by Tien Phong Commercial Joint Stock Bank ( TPBank ). As of the end of June 2024, the outstanding loan disbursement has reached VND 170 billion.

The social housing project for workers to rent with the above credit package is Thu Thiem Green House, invested by Thu Thiem Group Joint Stock Company, located right on the frontage of Vo Chi Cong Street (foot of Phu My Bridge), Thanh My Loi Ward, Thu Duc City, Ho Chi Minh City. The project has a frontage on Vo Chi Cong Street (67m wide), planned on an area of over 2 hectares, construction density of 60%, including apartment buildings from 5-9 floors, including 4 blocks, a total of 1040 apartments.

This project is fully developed by the investor with internal facilities, including: swimming pool, commercial service facilities, kindergarten, park, outdoor sports and fitness ground system, ... to meet the living needs of the expected community of about 3,000 people.

Previously, in April 2023, 4 state-owned commercial banks ( Agribank , BIDV, Vietcombank and VietinBank) committed to deploying a credit package of 120,000 billion VND to support loans for investors and buyers of social housing and workers' housing according to Resolution 33/NQ-CP in 2023 on solutions to remove obstacles and promote the real estate market to develop safely, healthily and sustainably.

The lending interest rate of this program is 1.5 - 2% lower than the average Vietnamese Dong medium and long-term lending interest rate of 4 banks.

In addition to the four banks above, recently, two banks TPBank and VPBank have registered to participate in the program and each bank committed to lending 5,000 billion VND. Thus, the amount of money committed to lending for social housing development by the six banks to date is 130,000 billion VND.

Source: https://baotainguyenmoitruong.vn/du-an-noxh-dau-tien-o-tp-hcm-duoc-vay-goi-120-000-ty-dong-377544.html