Want to be in the loop?
subscribe to
our notification
Business News
HCMC TO BUILD APARTMENTS WITH PRICE AT VND300M
Authorities of HCM City plan to build apartments with prices at under VND1 billion (US$43,898) per unit for employees located in the city.
The city will study and work with investors to reduce costs and diversify products to build affordable apartments at prices from VND300 million to VND400 million, VND700 million and under VND1 billion per unit to meet demand of the low-income people, Tran Trong Tuan, director of the HCM City Construction Department, said.
This plan was proposed after the city had successfully constructed 40,000 apartments with price at VND100 million per unit, similar to the southern province of Binh Duong that has built such apartments for workers in the province, he said.
At present, one investor will develop a social housing project of 1,000 units in District 12, while another investor is planning to invest in building social houses on land under the land fund managed by the State.
“The construction department has discussed with these two investors to reduce the selling price to VND300-400 million per unit. Only projects that are developed on land under State management can offer houses at VND300 million per unit. There will be no cheap apartments if companies themselves conduct site clearance and compensation for site clearance," Tuan said.
Phan Truong Son, head of the department’s Housing Development and Real Estate Market Division, said the city currently had 57 social housing projects with total area of 165ha.
The department has submitted to the city People’s Committee a social housing development plan until 2020, including solutions to diversify property products, such as for people living along canals and rivers who are not eligible to buy commercial houses.
Source: VIR
Related News
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
CAPITAL FLOWS STRONGLY INTO INDUSTRIAL REAL ESTATE
Industrial real estate has had easier access to bank credit since July, when the State Bank of Vietnam (SBV) reduced the credit risk coefficient for industrial real estate from 200 per cent to 160 per cent, encouraging commercial banks to lend to more projects in the segment.
GDP GROWTH REACHES 6.42 PC IN FIRST HALF
Vietnam's economy grew by 6.42 pc in the first six months of 2024, slightly lower than the figure of 6.58 pc in the same time of 2022 within the 2020-2024 period.
FDI INFLOW INTO VIETNAM REACHES NEARLY 15.2 BILLION USD
Vietnam attracted nearly 15.2 billion USD in foreign direct investment (FDI) in the first six months of this year, a year-on-year increase of 13.1 per cent, according to the General Statistics Office.