According to the Ho Chi Minh City Department of Home Affairs, the Ho Chi Minh City People's Committee has allowed the merger of mass associations in Binh Duong, Ba Ria - Vung Tau and Ho Chi Minh City (formerly). In which, Binh Duong Real Estate Association and Ho Chi Minh City Real Estate Association will be merged into the new Ho Chi Minh City Real Estate Association (abbreviated as HoREA).
On that basis, on December 9, HoREA held the 1st Congress for the 2025 - 2030 term. At the congress, the report on the activities of the recent term and the direction of activities for the first term (2025 - 2030) were approved.
The Congress elected the Executive Committee of the Ho Chi Minh City Real Estate Association, consisting of 61 members. Elected Mr. Le Hoang Chau as President of the Association and 14 Vice Presidents. In which, Mr. Giang Quoc Dung - General Director of Binh Duong Investment and Project Management Company Limited is the Permanent Vice Chairman of HoREA, and Chairman of the Northwest Saigon Real Estate Association, Mr. Bach Van Luong - Chairman and General Director of Gia Cat Real Estate Trading Joint Stock Company is the Vice Chairman of HoREA, and Chairman of the Southeast Saigon Real Estate Association, Ms. Luu Thi Thanh Mau - General Director of Phuc Khanh Investment and Construction Joint Stock Company is the Vice Chairman and General Secretary.
At the conference, HoREA raised the issue of developing social housing and affordable housing for workers and low-income people in the coming time.
According to HoREA, developing social housing and affordable housing will help rebalance the market and reduce risks in the current real estate market. The Association said that the Association responded to the Government's program to develop 1 million social housing units by 2030 and the goal of developing 211,000 social housing units in Ho Chi Minh City by 2030.
In the coming time, the association recommends that member real estate businesses need to restructure investment, strongly shifting to the affordable housing and low-cost housing segments. At the same time, businesses are interested in developing low-cost rental housing to serve the needs of low-income and middle-income workers. In addition, it is recommended that member businesses respond to the invitation to invest in rebuilding old apartment buildings and developing social housing.
