Where are the 10 social housing projects started in the past 10 months?

Too little for the need

In a report recently sent to the Ministry of Planning and Investment, the Ministry of Construction said that in the first 10 months of 2023, 10 social housing and worker housing projects were started nationwide, supplying 19,853 apartments to the market.

There are 7 social housing projects that have started construction, including: 4 social housing projects started in Hai Phong (6,707 apartments), 1 project started in Hanoi (720 apartments), 1 project in Lam Dong (303 apartments), 1 project in Thua Thien Hue (1,085 apartments).

In addition, there are 3 worker housing projects that have started construction in the past 10 months, including: 1 project in Hai Phong (2,538 apartments), 1 project in Binh Dinh (1,500 apartments), 1 project in Bac Giang (7,000 apartments).

Thus, although the Government, ministries, sectors and localities have strongly promoted investment in the construction of social housing and worker housing projects since the beginning of the year, the number of new projects started in the past 10 months can still be counted on the fingers.

Regarding the supply of social housing and worker housing built in recent years, according to the Ministry of Construction, 465 social housing projects for low-income people and industrial park workers have been invested in, with a construction scale of about 412,845 apartments.

But of these, only 46 projects have been completed, 110 projects have started construction but have not been completed, and up to 309 projects are at the stage of investment policy approval.

The 120,000 billion VND package has almost not been disbursed yet.

Regarding the disbursement of loan support packages for the development of social housing and workers' housing, the Ministry of Construction said that there are currently 3 preferential support packages being implemented by banks.

This is a support package for individual customers to borrow to buy or rent social housing or worker housing, with a scale of 15,000 billion VND, part of the socio-economic recovery program. To date, about 8,500 billion VND has been disbursed through the Social Policy Bank.

And there are about 24 social housing projects, worker housing, and renovation of old apartments nationwide approved to borrow about 7,500 billion VND in preferential capital according to Decree 31 of 2022 of the Government.

Regarding the disbursement of the VND120,000 billion credit package from four state-owned commercial banks, by the end of October, 20 provinces and cities had approved a list of 52 social housing and worker housing projects eligible for preferential loans, with a loan demand of about VND25,800 billion.

However, the disbursement figure from the preferential credit package of 120,000 billion VND so far is very low, only reaching about 83 billion VND.