HCMC plans to build 160,000 social houses within 10 years

For the 2021-2030 period, Ho Chi Minh City authorities planned to build 160,000 social houses in the area of 4 million square meters to meet its rising population and demand for affordable housing.
HCMC plans to build 160,000 social houses within 10 years

The municipal Department of Construction has just submitted a housing development master plan for the 2021-2030 period to the city People’s Committee. under the plan, the city targets to build houses on the area on 295 million square meters as it is estimated that the city’s population will be around 11.1 million by 2030.

The city plans to develop social housing, with a total floor area of four million square meters for about 160,000 apartments. Of the figure, the city will build houses on the area of 1.8 million square meters from 2021 to 2025 and on the area of 2.2 million square meters from 2026 to 2030.

To achieve its goal, city authorities will ask investors of projects covering 10 ha or more to allocate 20 percent of their land in each project for social housing. Additionally, using the state-owned land fund to build social housing will be top priority.

Apart from the targets set for social housing, for the 2021-2030 period, commercial housing projects are expected to have a total floor area of 45.2 million square meters, including 19.7 million square meters for the period of 2021 to 2025, and 25.5 million square meters for the 2026 to 2030 period.

Therefore, the government will issue policies to increase international cooperation and call for financial aid to speed up social house construction under the format of Public–Private Partnership (PPP).

Furthermore, city authorities will include social housing projects into lists of projects which the government will call for investment into development of housing projects under the form of PPP.

It is expected that houses which are built by residents for the 2021-2030 period will be on the area of 59.2 million square meters.