Hanoi targets reaching a total floor area of 44 million sq m by 2025, including 1.215 million sq m for social housing.

The targets are part of the housing development plan between 2021 and 2025, which has been approved by the Hanoi People’s Committee.

Total investment is estimated at VND437 trillion ($18.3 billion).

Under the plan, the city also targets increasing the average housing area per person to 29.5 sq m, develop 550,000 sq m of floor area for resettlement purposes, and speed up the renovation of old buildings, especially those deemed too dangerous to live in.

The capital will also strive to complete 109 commercial projects capable of being completed in the 2021-2025 period, with 19.4 million sq m of floor area.

Hanoi will continue to remove makeshift housing and raise the permanent housing rate to 90 per cent.