Hanoi has new social housing projects in succession.

The Thang Long Green City social housing project at CT3 plot, Kim Chung new urban area, Dong Anh district, was just started today, March 3. The project investor is the Handico - Viglacera joint venture.

The complex consists of 3 12-storey buildings and 1 attic, expected to provide more than 1,100 apartments, accommodating more than 3,900 people. The apartments have an area of ​​50 - 64 m², 2 to 3 bedrooms.

Mr. Pham Tien Duc, General Director of Handico, said the selling price of the new social housing area is about 18.4 million VND per square meter.²(including 5% VAT and 2% maintenance fee). With the above price, the apartment has an area of ​​49.8 m²The project costs about 916.3 million VND. The largest apartment is 64 m2.²priced at about 1.2 billion VND. The investor committed to completing the project in the fourth quarter of 2026.

Mr. Duc said the consortium is proposing that the city soon complete legal procedures so that the unit can implement additional social housing projects at plot CT5, Kim Chung new urban area.

Previously, this consortium put into use the social housing apartment building on land lot CT4 from the fourth quarter of 2021. This building has 484 apartments, providing accommodation for more than 1,500 people.

At the groundbreaking ceremony, Mr. Duong Duc Tuan, Vice Chairman of the Hanoi People's Committee, said that the supply of social housing in the capital will be more abundant. This year, the city plans to complete 8 projects with about 4,670 units and start 6 projects with more than 10,200 units. The city will also approve investment policies for 6 new projects with a scale of 10,500 units to supplement the supply for the following years.

City leaders requested the Handico - Viglacera joint venture to speed up progress and complete the social housing project at plot CT3 5 months earlier than expected.

Since the end of last year, the city has continuously started two new social housing projects. In early December 2024, the investor Udic started construction of social housing N01 Ha Dinh, lane 214 Nguyen Xien, Thanh Tri district. The project has 255 units for sale and 110 units for rent. The estimated selling price is 25 million VND per square meter.², equivalent to 1.75 billion VND for a 70 m2 apartment²The investor will accept applications to buy and rent apartments in the project from the last quarter of this year.

In mid-December, the social housing area in Uy No commune, Dong Anh district also started construction with 4 blocks of 9-storey buildings, providing 466 apartments for low-income people and officers and soldiers of the armed forces in Hanoi. This is the first social housing project of the enterprise under the Ministry of National Defense - Corporation 319, expected to be completed in October 2026.

These are positive signals for the low-cost housing market in Hanoi after a long period of time without any new social housing projects being implemented in the capital. According to the project to develop 1 million social housing units by 2030, Hanoi has the highest social housing development target in the country with 56,200 units. However, in the past 4 years, the city has completed less than 21% of the set target. Last year, the entire capital had only one social housing project for rent that was granted a construction permit.

This year, the Prime Minister assigned Hanoi to complete 4,670 social houses. However, the Prime Minister noted that the development of social houses in the capital should not only be concentrated in "places with a lot of land" such as Dong Anh, while places with little land left such as Nam Tu Liem district are not developed.

"Social housing must also have adequate infrastructure conditions such as transportation, healthcare, education, sports, social... like commercial housing, not built in remote, isolated places," the Prime Minister said at a working conference with state-owned enterprises on February 27.