The People’s Committee of the south central province of Quang Ngai has approved the investment policy for a project to build An Phu new urban area with an estimated investment capital of over VND9.7 trillion ($371 million).

The project covers over 161.9 hectares in the province’s Quang Ngai city.

Of the total area, over 38,000 sq.m will be used to build 297 adjacent houses, and over 40,000 sq.m will be allocated for the construction of a 15-storey apartment building with 1,948 units. Meanwhile, over 99,100 sq.m will be used to build 1,530 social houses.

The project will be implemented in eight years since the investor is chosen via bidding. The investor is required to contribute at least 15% of the project’s total investment capital.