Additional nearly 3,900 social houses to be built in Ho Chi Minh city

Photo for illustration (Source: dangcongsan.vn)

The municipal Department of Construction also announced that in last six months of 2019, the city will complete six projects with a scale of 3,810 apartments. As the result, nearly 18,000 social housing apartments, with a capital of 21,834 billion VND, will be completed in the period of 2016-2020.

To develop social housing, the Department suggested to use land managed by the State and construction investment capital from the budget and from commercial housing project investors; inviting bids to select investors to implement projects using public land fund; and reforming administrative procedures on investment, credit policy mechanism, tax to encourage enterprises to build houses, for rent, low-cost commercial housing suitable for the needs of low-income people./.