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Vinaconex launches cheap housing project
Vinaconex Xuan Mai Concrete and Construction Joint Stock Company last week began construction of low-income apartments in Ha Noi's Ha Dong District.
Covering an area of more than 24,000sq.m, the VND950 billion (US$50 million) project will include five 19-storey apartment blocks, a ground floor and commercial centres in the Kien Hung residential area, 11km west of the capital.
Director of Vinaconex Xuan Mai Dang Hoang Huy said the project would add 1,512 apartments to the market by the first quarter of 2012. The price for the 65 to 70sq.m apartments will be VND8 million ($420) per square metre.
Vice Chairman of the municipal People's Committee Phi Thai Binh said this was the largest low-cost housing project so far in the capital in terms of scale and the number of apartments.
The capital is striving to build 15,000 apartments with an average area of 70 square metres and total investment of VND7-9 trillion ($368-474 million) by 2015.
Binh said the city had already carried out several social housing projects for workers, students and low-income earners in Viet Hung, Sai Dong, Dong Anh, Ha Dong, Hoang Mai districts.
Construction of several low-cost housing projects in An Khanh residential area and Me Linh district would begin by the end of this year.
vietnamnews
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