HCMC – Binh Duong Province will invest VND65 trillion to develop 160,325 social homes by 2030 to meet the housing needs of more than 552,400 residents.
The central Government has assigned Binh Duong to build 86,880 social homes from 2021 to 2030. However, the southern province has doubled the target in response to huge demand for low-cost homes.
Binh Duong has approved the social home development plan following the prime minister’s directive to construct at least one million social homes nationwide for low-income individuals and factory workers during the same period.
The plan designates 470.4 hectares for social housing development, with a total floor area of more than 9.25 million square meters. The total investment is projected to reach VND84.76 trillion.
The project will be executed in two phases. From 2021 to 2025, Binh Duong will allocate 136.1 hectares and invest VND23.82 trillion to build 42,445 units, accommodating 138,326 residents. From 2026 to 2030, the province will allocate 334.3 hectares and invest VND60.94 trillion to construct 117,880 units for over 414,100 people.
The rapid development of industrial zones in Binh Duong has attracted many residents, increasing the demand for affordable housing. Despite this need, many workers struggle to buy homes due to limited incomes. The new housing plan aims to address this issue.
