The Government’s ambitious and humanitarian goal of constructing one million social homes for low-income individuals and workers at industrial zones between 2021 and 2030 represents a significant step towards improving living conditions for vulnerable groups. Since the plan was approved, the entire political system has mobilized all resources to help turn the dream of home ownership into a reality for low-income families and factory workers. However, the road to implementation remains fraught with challenges. Review the journey Since 2021, there have been 657 social housing projects with a total of 597,152 units, according to data compiled by the Ministry of Construction. Of these, only 103 of them with 66,755 units have been completed, while 140 projects with 124,352 units have got off the ground and 414 projects with 406,045 units are awaiting approval. Although these figures may appear promising, the completion rate relative to the 2025 target stands at just 15.6% (66,755 out of 428,000 units) and a mere 6.28% of the overall 2030 target. This highlights the considerable gap that remains in achieving the ambitious goal of one million homes. The housing market always grapples with an undersupply even though around 15 major real estate companies are involved in […]
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