A social housing project in Hai Duong has started construction but has not yet accessed the 120,000 billion VND credit package.

Currently, the social housing project in the new urban area south of Hai Duong city (sub-area 2) in Gia Xuyen commune (Hai Duong city) is still in the process of completing procedures to be granted a certificate of land use rights, calculate the selling price, rental price and lease-purchase of social housing. When the project is granted a certificate of land use rights and calculates the above prices, the project investor will complete the legality of the dossier to send to the bank to access loans under the 120,000 billion VND credit package.

According to information from Thanh Dong Real Estate Investment Joint Stock Company (the investor of this project), the Department of Natural Resources and Environment is urgently speeding up related tasks so that the project can soon be granted a land use right certificate, which will serve as a basis for the investor to submit for appraisal the selling price, rental price, and rent-to-purchase price of social housing.

In related developments, at the conference to promote the implementation of the VND120,000 billion credit package organized by the State Bank on the morning of March 12, in addition to the limited supply of social housing projects, there is another reason why this credit package has not been as effective as expected. That is, a number of projects across the country have encountered legal problems, site clearance, land use fee calculation procedures, land use purpose conversion, etc. Therefore, although both banks and investors have a need to access the VND120,000 billion package, there is no basis for granting credit.