Social housing race from the beginning of the year

Also in the first days of the year, many social housing projects were granted investment decisions, signaling a prosperous year for this segment.

A series of projects were granted investment decisions.

On February 1 (the 4th day of the Lunar New Year), when people were still enjoying the holiday, the People's Committee of Binh Duong province held a conference to hand over the decision to approve the investment policy for 7 social housing projects, with a total of 9,240 apartments and a total investment of VND8,468 billion. The projects implemented include Toan My Social Housing Area of Toan My Corporation Joint Stock Company with an investment capital of VND1,560 billion, expected to build 1,204 apartments; Thai Duong Social Housing Area invested by Thai Duong Animal Feed Company Limited with a cost of VND1,123 billion, providing 900 apartments; Thanh Binh Social Housing Apartment Building implemented by Thanh Binh Construction Production Joint Stock Company, with a total investment capital of VND948 billion, building 868 apartments.

In addition, the province also approved 4 social housing projects of the Industrial Development and Investment Corporation - JSC with a total investment capital of more than 4,836 billion VND.

Binh Duong Provincial People's Committee granted investment approval decisions for 7 social housing projects

PHOTO: NL

Binh Duong province leaders said they will strive to deploy 26,552 social housing units this year, achieving the Government's target and the approved project for the 2021-2025 period of 42,000 units.

Also accelerating early, in early January, the Hanoi People's Committee issued Decision 225 approving 8 social housing projects, with a total of 1,583 apartments, with a total floor area of nearly 256,000 m2. The projects are concentrated in Thuong Tin, Long Bien, and Hoang Mai districts. In addition, the list also includes 7 social housing projects with adjusted planning, with a total floor area of 75,366 m2, including 1,140 apartments. According to the leader of the Hanoi Department of Construction, from now until 2026, the city has 11 social housing projects expected to be completed with nearly 6,000 apartments, equivalent to 345,000 m2 of floor area.

Meanwhile, the Ho Chi Minh City government is also racing to have 28 social housing projects registered by enterprises by 2030, providing 60,000 units. In addition, Ho Chi Minh City is investing in 10,000 social housing units, bringing the number of houses to be built to 70,000 units.

Not only Binh Duong, Hanoi or Ho Chi Minh City but also other localities such as Bac Ninh , Bac Giang , Hai Phong ... are also rushing to build and develop social housing. A report from the Ministry of Construction shows that in 2024, the whole country completed 108 projects with a total of 47,532 social housing units. By 2025, based on the data registered by localities, it is expected that the whole country will have 135 more projects, with more than 100,000 units.

It can be seen that after many years of struggle, the social housing segment has flourished with the deep attention and strong direction from the Government, along with many more convenient, open and transparent mechanisms and policies.

A social housing project in Hanoi

PHOTO: KHAC HIEU

Projects that have started must be completed by 2025.

Mr. Nguyen Van Loi, General Director of Thien Phat Company, said that his company has just been granted an investment decision by the People's Committee of Binh Duong province to build nearly 1,000 social housing units. In the following year, the company will invest in about 5,000 more units, with the goal of prioritizing social efficiency over economic efficiency of the company.

"Currently, the Government, ministries, branches and localities are very determined to implement this project. The Ministry of Construction is drafting a resolution on preferential credit capital of 100,000 billion VND for the Social Policy Bank to lend to purchase, hire-purchase, construct, renovate and repair social housing. The interest rate of this preferential credit package is equal to the interest rate for poor households as decided by the Prime Minister in each period. In which, the disbursement period of the preferential credit package of 100,000 billion VND until the disbursement of this credit package is complete, but not exceeding December 31, 2030," Mr. Nguyen Van Loi cited and added that he and businesses really hope that this package will be approved soon. According to Mr. Loi, the Social Policy Bank should be assigned to lend at low interest rates and for long terms so that the subjects can access it, so that workers can borrow money and buy decent apartments. Once they have a home, workers ’ children can live near their parents and have a stable education. This is also a way to prepare a young generation, a well-mannered human resource, to serve the high-quality industry.

"We have had preliminary discussions to form a consulting group including the Department of Construction, investors, and local policy banks to organize the appraisal, confirmation, and approval of documents on behalf of the people; to avoid the situation where each household carries its documents and runs everywhere to get confirmation, which is very difficult. At the same time, the enterprise will sign an agreement with the Social Policy Bank to handle force majeure when cases of borrowing from banks but not fulfilling payment obligations, the enterprise will do it instead. How to put the policy into practice, creating more capital for the program. When people have settled down, have a job, and every family is prosperous, society will also be better," said Mr. Nguyen Van Loi.

According to Deputy Minister of Construction Nguyen Van Sinh, in 2025, based on data from registered localities, the Ministry of Construction expects the whole country to complete over 100,000 social housing units. To achieve the above target, the Ministry of Construction requests that localities with projects that have started construction need to regularly urge them to complete the project in 2025. Projects that have approved investment policies need to urgently carry out procedures for selecting investors, allocating land, and granting land use right certificates. At the same time, establish and appraise basic designs, technical designs, and grant construction permits to start construction in the first quarter of 2025. For investors of commercial housing projects and urban areas investing in social housing construction on a 20% land fund, the Ministry of Construction requires these projects to be implemented according to the approved schedule. In case the investor does not implement, 20% of the land fund will be recovered to select other investors to implement.

Large corporations participate in social housing

Previously, the Ministry of Construction had submitted Document No. 02 to the Prime Minister proposing to organize a conference to promote social housing and the healthy and sustainable development of the real estate market. The conference is expected to have the direct participation of 200 delegates who are experts, representatives of the Vietnam Real Estate Association, Ho Chi Minh City Real Estate Association and many large real estate enterprises nationwide such as: Vingroup, Sun Group, Novaland, Hung Thinh Land, Becamex IDC Binh Duong, CEO Group, Him Lam, Capital House, Capitaland, Viglacera, HUD, Ecopark...