HCMC – Khanh Hoa Province has approved a VND5.43-trillion social housing project in Nha Trang, adding about 3,200 units for low-income earners.
The provincial People’s Committee issued an investment decision for the project at 3 Pham Phu Thu Street in Nha Trang Ward.
The development will be carried out by a consortium of Thu Do Investment and Trading JSC and Rapexco – Dai Nam Company.
Covering nearly five hectares, the project is designed for around 7,960 residents, with 3,200 social housing units and 780 commercial units.
Construction will be implemented in two phases. The first phase covers legal procedures and is scheduled to begin in the second quarter of 2026. The second phase is expected to run from 2027 to the first quarter of 2029.
Authorities identified rising demand for housing among low-income earners, workers, and laborers as urbanization accelerates in the province. Supply has not kept pace, particularly in areas with high concentrations of workers and tourism services, according to the local construction sector.
Recent years have seen multiple social housing projects launched in Nha Trang, Cam Lam, and other urban areas. However, the available housing stock remains insufficient to meet demand.
The new project is expected to expand affordable housing supply, support social welfare, and help balance the property market between commercial and social housing segments.
The provincial government has instructed investors to ensure progress and comply with regulations on planning, construction, environment, and infrastructure. Relevant agencies have been tasked with supervising implementation and resolving difficulties during the project rollout.
