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Southern province opens 1,700 affordable apartments for local laborers

Southern province opens 1,700 affordable apartments for local laborers

Friday, January 01, 2016, 15:02 GMT+7

The administration of southern Vietnam’s Binh Duong Province inaugurated 1,700 affordable apartments for workers on Thursday.

The apartments, developed by state-owned investment and development corporation Becamex IDC, are located in the Dinh Hoa urban area, just two kilometers from Binh Duong’s administrative center.

Each 30 square meter apartment has one mezzanine and is being sold for at least VND100 million (US$4,500).

Labor workers who have stayed in Binh Duong for six months or more are eligible to purchase the apartments, which can be paid for in monthly installments of VND1-2 million ($45-90).

Plans are also in the works to build schools and kindergartens nearby to provide education to the workers’ children.

The same day, the province commenced construction on 1,500 more expensive apartments, each between 40 and 70 square meters, to accommodate wealthier residents.

Affordable housing has been a hot topic in Vietnam over the last week.  On Thursday, the Vietnam General Confederation of Labor and local daily Lao Dong hosted a talkshow in Hanoi to discuss the capital’s affordable housing programs for needy residents.

Hanoi’s planned affordable housing will be built near Thang Long and Noi Bai industrial zones, in a model expected to be duplicated nationwide.

Around five percent of Hanoi labor workers currently have access to affordable housing programs, while 70 percent of its labor workforce consists of non-residents.

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