The Binh Dinh Provincial People’s Committee has approved the construction of a social housing project in the south-central province’s Long Van urban area in Tran Quang Dieu ward, Quy Nhon city. The project will build a total of 16,000 apartments measuring 49-90 sq m each for low-income earners.

Construction will begin in May, 2023, and the project will be put into use in August, 2024. It covers a total area of 37,617 sq m with investment capital of nearly VND1.13 trillion ($48 million).

The Provincial People’s Committee asked the investor, the Construction Investment and Mechanical Electric Joint Stock Company (IEC), to strictly carry out the project on schedule and to fully implement procedures relating to investment, land, planning, construction, fire prevention and control, and environmental protection. Of note, the company must abide by regulations on the potential beneficiaries of social housing projects as stipulated in the Law on Housing and other State regulations.

According to the Provincial People’s Committee, if the investor fails to execute the project or is not able to execute the project under the registered schedule within 12 months of the date of the Certificate of Investment Registration without offering a proper explanation, the investment will be terminated.

The Binh Dinh Department of Planning and Investment has added the project to provincial planning for the 2021-2030 period and vision to 2050.