HCMC Aims to Build 2.7 Million m2 of Social Housing

Ho Chi Minh City has set a target to build 2.7 million m2 of social housing by the end of 2015, under a co-operation programme between the City and the Ministry of Construction (MOC).

 

The budget housing programme will provide accommodation for 100,000 college students and 93,000 workers, as well as 17,500 apartments for low income earners.

The City also aims renovate 25 dilapidated condominiums with a total floor area of 350,000 m2 (around 6,500 apartments).

 

Ho Chi Minh City currently has almost two million households with around 8.5 million people, said HCMC Chairman Le Hoang Quan.

 

He added that the City has the highest rate of urbanisation in the country, with 75 percent of the population living in urban neighbourhoods.

 

Under the programme, HCMC and the MOC will co-operate to outline housing development targets for each group of residents for each year, speed up the detailed planning of new urban areas and repurpose commercial housing projects that are progressing too slowly into social housing projects.

 

Businesses in both the private and State sectors are being encouraged to build houses for workers and students as well as renovate and build new condominiums.