Bình Dương proposes $2.55 bln credit to boost social housing projects

Social housing for workers and low-income earners in Định Hoà Commune, Thủ Dầu Một City in Bình Dương Province. VNA/VNS Photo Chí Tưởng

BÌNH DƯƠNG — Bình Dương is looking for credit of at least VNĐ65 trillion (US$2.55 billion) to develop approximately 160,300 social housing units for workers and low-income earners from now until 2030.

This plan aims to meet the housing needs of about 552,458 people, far exceeding the target set by the Government.

That was for 86,877 social housing units during the 2021-2030 period.

However, under the approved Social Housing and Worker Housing Development Project for the 2021-2025 period, with a vision towards 2030, the province has raised this and is planning to build a total of 160,325 units.

This project followed the Prime Minister's approval of a plan to build at least a million social housing apartments for low-income earners and industrial park workers by 2030.

Under the plan, Bình Dương will invest in 155,289 apartments and 5,036 houses, with about 32,065 units designated for rental.

The total land area for social housing development is about 470.4 hectares, with an estimated construction floor area of 9,253,924 square metres.

The total investment for this project is estimated at VNĐ84.75 trillion ($3.32 billion), surpassing the Government's target.

Over four years Bình Dương will allocate about 136.1 hectares of land and invest in completing approximately 42,440 social housing units, meeting the needs of about 138,326 people, with a total investment of about VNĐ23.81 trillion ($935 million).

In the 2026-2030 period, the province will allocate about 334.3 hectares of land and invest in completing approximately 117,880 social housing units, meeting the needs of about 414,132 people, with a total investment of about VNĐ60.93 trillion ($2.39 billion).

The rapid development of industrial zones has attracted a large number of residents to Bình Dương for living and working, increasing the demand for housing; however, owning a home remains beyond many local incomes.

Võ Hoàng Ngân, Director of the provincial Department of Construction, stated that developing social housing and worker housing is an important part of Bình Dương's socio-economic development policy.

This aims to facilitate access to affordable housing for workers, labourers and vulnerable groups, aligning with their ability to pay and therefore attracting a high-quality workforce.

The project also encourages various economic sectors to invest in the development of social housing and introduces supportive housing policies for low-income urban residents and industrial park workers, he said.

During the inspection of the progress of social housing construction at the Chánh Mỹ Ecological Urban Area project in Chánh Mỹ Ward, Thủ Dầu Một City, Nguyễn Văn Lợi, Secretary of the Bình Dương Provincial Party Committee, requested labour unions review workers' needs for social housing. He also urged relevant departments and investors to resolve any difficulties and obstacles to ensure the project's early completion and effective operation.

Lợi acknowledged the challenges faced by investors during the project's implementation and appreciated the progress made. He noted that the project has largely completed the necessary legal procedures and emphasised the need to focus on policies for compensation, resettlement and ensuring the rights of residents in the cleared areas.

The Chánh Mỹ Ecological Urban Area project allocates more than 27 hectares for social housing, including six 12-story apartment towers with 978 apartments ranging from 38.5 square metres to 63.5 square metres.

While the social housing is under construction, around 1,200 applications have been registered by those interested in purchasing an apartment.

Phase 1 of the project, with the handover of three towers with 456 apartments, is forecast to be completed in the third quarter of 2025. — VNS