Although thousands of apartments under housing projects are completed or going to be handed over, the demand for social housing in Khanh Hoa has remained high...
Although thousands of apartments under housing projects are completed or going to be handed over, the demand for social housing in Khanh Hoa has remained high. Khanh Hoa Department of Construction will review the land funding and suggest the Provincial People’s Committee would have measures to boost social housing development in 2021.
Thousands of apartments handed over
In early 2021, VCN Investment Joint Stock Company handed over nearly 330 apartments at the Social Apartment Building 1 and 100 others at the Social Apartment Building 2 in the VCN Phuoc Long Urban Area, Nha Trang City; nearly 100 apartments at the Social Apartment Building 2 are being handed over. The project construction began in early 2019 with the selling price at VND13.6 million/m2. P.H Nha Trang Apartment Building construction, Vinh Truong Ward, Nha Trang City started construction in late 2016 and the handover is underway. The 28-storey building with 1,200 apartments has helped ease local housing demand.
The apartment handover at HQS Social Housing project, Le Hong Phong Urban Area invested by Ha Quang Real Estate Joint Sock Company is going to take place. 3 buildings SSH-07, SSH-08 and SSH-09 on an area of 12,000m2 have 16 storeys with more than 1,100 apartments. The final stage of construction is being accelerated. SSH-09 building with 239 apartments has been basically completed and the handover is expected to begin on March 8. SSH-07 with 487 apartments and SSH-08 with 346 apartments are due to be handed over this April and May respectively.
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3 housing projects with approximately 2,000 apartments were handed over to its clients in the 2019 – 2020 period. They included Binh Phu 2, Hoang Quan and Phuoc Long New Urban Area. Around 1,600 apartments of 2 housing projects, namely P.H Social Apartment Building and Social Housing Area in VCN Phuoc Long Urban Area are being handed over. Besides, Cam Ranh Social Housing Area invested by Thanh My Co., Ltd is in the final stage of construction with 223 apartments, according to Nguyen Hoat, Chief of the Housing Management & Real Estate Market, Khanh Hoa Department of Construction.
11ha cleared land remaining for social housing development
According to statistics by the Housing & Real Estate Market Management Office, about 5,000 social housing apartments have been put into use since 2011. However, the housing demand of policy beneficiaries and low-income residents is still high. Whenever a new housing project is launched, the number of apartments available is outnumbered by applicants. Specifically, applicants outnumber social apartments from housing projects by VCN Investment Joint Stock Company by 4 times.
Currently, there is still 11ha of cleared land remaining for social housing construction in urban areas. In the near future, the department will review and have specific reports on this issue. In 2021, the office will provide consultancy for the leader of the Department of Construction to organize a workshop on social housing to meet social welfare and housing care for policy beneficiaries and low-income earners.
Along with incentives from implementing social housing projects, regulations on selling prices and buyer eligibility are imposed on investors. Therefore, only potential and enthusiastic investors are able to develop such projects. Currently, the demand for social housing demand is still very high. Therefore, the Department has assigned the Housing & Real Estate Market Management Office to coordinate with the Engineering & Construction Quality Office to review the land fund for social housing development in urban areas and report any projects falling behind schedule to the Provincial People's Committee for withdrawal and investor change, according to Tran Nam Binh, Director of the Department of Construction.
Van Ky
Translated by N.T
