HCMC budget housing projects splurge

Huge demands for cheap housing in Vietnam

The largest of the recent projects is Phu My block in District 7. The unit will have 3,070 apartments and required a total investment of VND4.3 trillion ($232 million). The resettlement block was built on a total area of 105,000 sq. metres which includes 9 blocks that will hold 20-30 floors and 1 commercial service center with 8 floors.

At the end of Jan 2010, The People’s Committee of District 6 also approved and began constructing 180 apartment blocks for low-income people at 241A Tan Hoa Dong, Ward 14, District 6. The project was built on a total area of approximately 2,800sq. metres, including 2 blocks with 20 floors and 180 apartments that will provide housing for an estimated 720 people. The total investment for the project is VND130.5 billion ($70 million).

The People’s Committee of Tan Binh District also started a social housing project at 19/19 Lac Long Quan St, Ward 9, Tan Binh District. The site used for construction was the former warehouse and yard of the Vietnam Steel Corporation which was not utilised effectively and was withdrawn from in 2009. The site is over 6,700sq. metres and used for constructing the blocks of 17 floors (excluding 2 basement floors and a technical layer) including 490 apartments with a total area of 41-82 sq. metres each. The project investment is approximately VND500 billion ($270 million).

At the end of Jan 2010, Ho Chi Minh city started various other construction projects such as the project at Plot 11B, New Urban Zone in the south, Binh Chanh District, and a dormitory project at the Transportation and Communications University – Branch 2.

Housing needs have emerged as an area of strong demand in Ho Chi Minh city. At present, the city is deploying a series of large projects aimed at supplying the growing demands for affordable accommodation and relocation housing in the city. These projects hope to ease the needs for new flats and resettlement centres for cleared residences.