The construction of a low-cost housing project consisting of nearly 1,000 apartments was initiated in Binh Duong Province, southern Vietnam on Friday morning.
The groundbreaking of the project, developed by Housing and Urban Development Corporation (HUD) under the Ministry of Construction, was organized in Chanh My eco-urban area in Thu Dau Mot City.
The project covers an area of 2.7 hectares and consists of six 12-story blocks with 978 apartments.
At the ceremony, Minister of Construction Nguyen Thanh Nghi praised authorities, businesses, and investors in Binh Duong for their efforts in providing sufficient affordable housing for workers and low-income earners.
Vo Van Minh, chairman of the Binh Duong People's Committee, said that provincial authorities always support the construction of budget housing, with a series of projects developed and funded by not only state-owned enterprises but also private investors.
The implementation of another housing project with nearly 1,000 apartments was recently kick-started in Tan Dong Hiep Ward, Di An City.
The project is executed by Le Phong Group JSC, a private enterprise.
In addition, Becamex IDC Corporation, a state-owned company, is also speeding up the construction of about 20,000 low-cost houses at local industrial parks.
According to Minister Nghi, Vietnam currently has 301 finished low-cost housing projects with about 156,000 units.
Around 401 other projects are being implemented, the official stated, adding that the country needs at least one million budget houses for low-income people.
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