People’s Committee in Hanoi yesterday broke the ground for a social housing project in the new urban Kim Chung in Dong Anh District. The project invested by Hanoi Housing Commercial Development and Investment in cooperation with Viglacera is located in the area of 3.7 hectare comprising of four 9-12 floor blocks.
It is expected that the project will be completed in 2020 to provide 1,588 apartments to over 5,330 residents. The project investment is totally worth VND1,300 billion ($55,728,728).
It will be sold at VND13 million per meter square excluding value-added tax while rent will be VND50,000 per meter square a month.
Chairman of People’s Committee in Hanoi Nguyen Duc Chung said that the project will be implemented as quick as possible to manifest authority’s determination as per the government’s plan for the period 2016 - 2020 on building houses for low-income people.
From now to 2020 Hanoi will continue building social houses in the area of 2.7 million meter square.