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Ho Chi Minh City
Tuesday, June 18, 2024

HCMC to set aside 20 land lots for social housing projects

The Saigon Times

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HCMC – HCMC will set aside 20 land lots covering over 38 hectares to build 1.3 million social homes for low-income earners in the city, the HCMC Department of Construction said in a recent report on the city’s social housing development plan sent to the Ministry of Construction.

These social homes will be located in the districts of 12, Binh Tan and Go Vap, the local media reported.

In the 2021-2025 period, some 519,000 people in HCMC will need social homes, while over 524,000 others, including workers, will need affordable homes in the next five years, according to the municipal department.

In addition, 20% of the areas of commercial housing projects will be earmarked to develop social homes. There will be 25 commercial housing projects in Thu Duc City, Binh Chanh District and District 7. Among them, 14 projects are ready for social housing development.

The department proposed the ministry quickly issue guidelines on the use of capital for infrastructure investment and site clearance compensation to build social homes on 20% of the area of commercial housing projects.

The department proposed simplifying procedures for social housing investment and development. The procedures for building budget homes appear more complicated than those for developing commercial houses.

Moreover, the department proposed allowing the HCMC government to decide the methods to build social homes using the area of commercial housing projects, with 2-10 hectares each. Accordingly, investors can meet the requirement of setting aside 20% of the area of commercial housing projects by paying an equivalent value or handing over an equivalent area of land.

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