This morning (March 3), the joint venture of Hanoi Housing Investment and Development Corporation (Handico) and Viglacera Corporation started construction of the Thang Long Green City social housing project at land lot CT3, Kim Chung urban area, Dong Anh district.

According to information from the investor, the project provides more than 1,104 apartments, expected to be handed over to residents in the fourth quarter of 2026, with a selling price of VND 18.4 million/m2 (including 5% VAT and 2% apartment maintenance fee).

After deducting taxes and fees, the selling price of an apartment at the Thang Long Green City social housing project is about 16.2 million VND/m2. This is a very attractive price for home buyers in the context of commercial housing prices in Hanoi being pushed up to 60 - 70 million VND/m2 recently.

Dong Anh social housing has been in use for 3 years, invested by Viglacera Corporation.

Thang Long Green City social housing project has a total construction land area of ​​nearly 3.7 hectares with 4 12-storey buildings and an attic, expected to provide accommodation for more than 3,900 people.

The investor's representative said that with the above selling price, a 49.8m2 apartment in the project costs about 916.3 million VND, while the largest apartment of 64m2 costs about 1.2 billion VND.

At the groundbreaking ceremony, Mr. Duong Duc Tuan - Vice Chairman of Hanoi People's Committee - said that the supply of social housing in the capital will be more abundant. This year, the city plans to complete 8 projects with about 4,670 units and start 6 projects with more than 10,200 units. The city will also approve investment policies for 6 new projects with a scale of 10,500 units to supplement the supply for the following years.

City leaders requested the Handico - Viglacera joint venture to speed up progress and complete the social housing project at plot CT3 5 months earlier than expected.

Mr. Nguyen Van Sinh - Deputy Minister of Construction - said that recently the Prime Minister decided to assign the target of completing social housing in 2025 and the following years until 2030, for localities to add to the socio-economic development target.

Deputy Minister of Construction Nguyen Van Sinh.

Accordingly, Hanoi City is assigned to build 4,670 apartments in 2025, and build 44,866 apartments in the period 2025 - 2030.

Previously, in 2024, Hanoi completed 9 social housing projects, with a scale of about 4,800 units. The groundbreaking of the Thang Long Green City social housing project contributed to solving the housing needs of workers in the city.

The project investment consortium is also two investors who have paid much attention to the field of social housing development in recent years.

From the end of 2024 to now, Hanoi has also continuously started two new social housing projects. In early December 2024, the investor Udic started construction of social housing project N01 Ha Dinh, lane 214 Nguyen Xien, Thanh Tri district. The project has 255 apartments for sale and 110 apartments for rent. The estimated selling price is 25 million VND/m2, equivalent to 1.75 billion VND for an apartment of 70 m2. The investor will accept applications to buy and rent apartments in the project from the last quarter of 2025.

In mid-December, the social housing area in Uy No commune, Dong Anh district also started construction with 4 blocks of 9-storey buildings, providing 466 apartments for low-income people and officers and soldiers of the armed forces in Hanoi. This is the first social housing project of the enterprise under the Ministry of National Defense - Corporation 319, expected to be completed in October 2026.

These are positive signals for the low-cost housing market in Hanoi after a long period without any new social housing projects. Meanwhile, commercial housing prices are up to 80 million VND/m2.

According to the project to develop 1 million social housing units by 2030, Hanoi has the highest social housing development target in the country with 56,200 units. However, in the past 4 years, the city has completed less than 21% of the set target. Last year, the entire capital had only one social housing project for rent that was granted a construction permit.

This year, Prime Minister Pham Minh Chinh assigned Hanoi to complete 4,670 social houses. The Prime Minister noted that the development of social houses in the capital should not only be concentrated in "places with a lot of land" such as Dong Anh, while places with little land left such as Nam Tu Liem district should not be developed.

At a working conference with state-owned enterprises on February 27, the Prime Minister assigned: "Social housing must also have full infrastructure conditions such as transportation, healthcare, education, sports, social... like commercial housing, not built in remote, deserted places."

Ngoc Mai