On July 4, information from the People's Committee of Nghe An province said that the province has just issued a decision approving the investment policy, and at the same time assigned Kim Thi Real Estate Joint Stock Company to be the investor of the social housing project in Vinh Phu ward.
The project is implemented on a land area of about 82,600m2, with a total investment of more than 1,557 billion VND. Of which, the investor's equity is more than 311 billion VND, loans and other legally mobilized capital sources are more than 1,246 billion VND.
According to the People's Committee of Nghe An province, the project aims to exploit the land fund to invest in building a synchronous social housing area in terms of technical infrastructure, social infrastructure and utilities to serve residents.
When completed, the project is expected to supply about 2,000 apartments to the market. In which, the investor arranges at least 12% of the apartments for rent according to regulations.
In addition to residential blocks, the project also has social infrastructure and utilities such as kindergartens, cultural houses, sports areas, green trees, landscapes and auxiliary works.
The project aims to meet the housing needs of low-income, middle-income people, officials, civil servants, public employees, poor households, near-poor households in urban areas, workers working in economic zones, industrial parks and people with housing difficulties in Nghe An province.
According to the plan, the project will complete investment, construction and site clearance procedures in the first quarter of 2027. By the fourth quarter of 2027, the project is expected to put into use the first 400 apartments.
In the fourth quarter of 2028, the investor will continue to put in use an additional 600 apartments. The entire project is expected to be completed in the fourth quarter of 2029. The project's operating period is 50 years from the date of land allocation or permission to change land use purposes.
Kim Thi Real Estate Joint Stock Company was established in 2014, headquartered in Vinh Hung ward, Nghe An province. The enterprise mainly operates in the field of real estate business, land use rights belonging to owners, users or leased.
At the time of establishment, Kim Thi Real Estate had a charter capital of 60 billion VND. After many changes, by July 2025, the enterprise's charter capital was 360 billion VND.
According to the company's introduction, Kim Thi Real Estate said that it is the first unit to invest in building social housing projects in Nghe An, and is currently the investor of many large-scale social housing projects.
