Hanoi City People's Committee has just submitted a report to the City People's Council on approving the investment policy of the Project to invest in building rental housing in Viet Hung ward.
Accordingly, Hanoi will invest in building 7 new housing projects with 12 - 13 floors and 2 basements belonging to land plots: CT-04C; CT04E; CT-05B; CT05D; CT06A; CT07A1; CT-07A2 and internal infrastructure of the residential area on a total area of about 2.46ha.
The total number of apartments is 1,166 units. The works are synchronized with the technical systems of the building such as fire prevention and fighting, BMS, air conditioning, ventilation... ensuring standards and regulations according to current regulations.
Hanoi City People's Committee said that the construction of the above 7 projects aims to strongly transform the thinking about housing, from mainly developing commercial housing to simultaneously developing both commercial housing and rental housing. In which, rental housing is identified as a strategic, long-term segment, serving a large number of people, especially workers, laborers, students, officials, civil servants, public employees and armed forces. Ensuring people have access to stable, long-term, safe housing suitable for their ability to pay. Contributing to reducing housing needs for a significant part of the Capital, while completing the architectural face of the area in particular and Viet Hung Urban Area in general.
The total estimated investment of the project is about 3,562 billion VND from the Hanoi city budget (equal to the money collected from commercial housing investors who fulfill their obligation to develop social housing in cash according to housing law). The expected implementation time is from 2026-2028.
Previously, at a working session between Politburo Member, Prime Minister Le Minh Hung and the Standing Committee of the Hanoi City Party Committee, Member of the Party Central Committee, Chairman of Hanoi City People's Committee Vu Dai Thang said that the city is urgently completing mechanisms and policies to form and develop the rental housing market in a synchronous and sustainable direction, meeting the actual needs of the people.
The city is expected to use about 9,000 billion VND, formed from the social housing development obligation revenue of investors, to create a rental housing fund. It is expected that in the period from June 15 to 20, the city will start construction of the first two projects, including land plots A2, A3, A4 belonging to Phap Van - Tu Hiep Housing Area and land fund belonging to the Old Quarter Population Expansion Project in Viet Hung.
