Nha Trang gets $16 million social housing project

Nha Trang gets $16 million social housing project

Participants at the groundbreaking ceremony of the new social housing project built in the Phước Long new urban area in the central coastal Khánh Hòa Province’s Nha Trang City. — Photo baoxaydung.com.vn

HÀ NỘI — The Housing and Urban Development Corporation (HUD) has started construction of a new US$ 一 六. 二 million social housing project in the central coastal Khánh Hòa Province’s Nha Trang City.

The project spans an area of  一. 八ha in the Phước Long new urban area, comprising of three  一0-storey apartment buildings. Each apartment has an area of  五 九- 六 六sq.m.

HUD, under the Ministry of Construction, is waiting for the provincial People’s Co妹妹ittee’s approval for the pricing plan of the project, with the average price of an apartment under VNĐ 九. 五 million per sq.m.

Located in the west of the city, the project is connected to regional residential areas, factories, universities, attracting a large number of citizens, students and workers who have high demand for affordable housing, especially housing with an average price that is below VNĐ 一0 million per sq.m.

At the project’s groundbreaking ceremony, Deputy Minister of Construction Bùi Phạm Khánh said the project, once completed, would meet the demand for housing of poor and low-income households currently living in Nha Trang City, creating favourable conditions for them to improve their living standards.

The Ministry of Construction has asked HUD to focus on the management of the project’s construction and quality and make ensure citizens get their new houses as scheduled.

According to Đào Công Thiên, vice chairman of the provincial People’s Co妹妹ittee, from now until  二0 二0, Khánh Hòa needs  一 五,000 affordable apartments and, so far, it has implemented a total of  一 一 affordable housing projects with  五, 七 三 三 apartments.

“Although the price, fluctuating at some VNĐ 九 million per sq.m. seems reasonable, but in total, people have to spend VNĐ 六00 million to buy a  六0 to  七0sq.m. house, which may still be a strain for them. Therefore, investors, in the future, should consider building smaller apartments, such as from  三0 to  四0sq.m, to meet the demands of people from lower income groups,公众Thiên said.

Thiên added that Khánh Hòa Province will create favourable conditions for investors and solve any problems related to project development. — VNS