Binh Duong adds thousands of social housing units adjacent to industrial parks

On March 9, in Thu Dau Mot City, leaders of the Ministry of Construction and leaders of Binh Duong province witnessed the groundbreaking ceremony of the large-scale Hoa Phu social housing project (also known as K-Home New City).

Hoa Phu social housing project covers 26.69 hectares with over 3,300 apartments, most of which are social housing.

Hoa Phu social housing project is located adjacent to large industrial parks such as Vietnam - Singapore (VSIP 2), Dong An 2... and is expected to bring housing opportunities to many workers and laborers.

Mr. Bui Minh Thanh - Vice Chairman of Binh Duong Provincial People's Committee - said that Binh Duong has a rapid economic growth rate and a large number of immigrant workers, developing social housing is an urgent task to ensure social security and sustainable development.

In which the state creates policy mechanisms to encourage and attract business investment participation, including private enterprises participating in the construction of social housing.

Mr. Nguyen Van Sinh - Deputy Minister of Construction - said that recently many laws and guiding documents have been passed to remove legal obstacles and create favorable conditions for the real estate market. These include removing obstacles to facilitate the implementation of the project to build at least 1 million social housing apartments for low-income people and industrial park workers by 2030 nationwide.

Mr. Sinh highly appreciated the authorities and business community of Binh Duong for actively implementing social housing projects with more than 2,000 apartments completed in the 2021-2024 period.

From now until 2030, Binh Duong will continue to complete nearly 85,000 more social housing units, of which more than 8,200 units will be completed in 2025, making a large contribution to the country's social housing fund.