Ho Chi Minh City has maximized the reduction of administrative procedures, focusing on resolving difficulties in the construction process of social housing. The city has issued regulations to shorten the time for granting construction permits to investors, facilitating businesses to participate in the development of social housing.
Speaking at the third session of the Central Steering Committee on Housing Policy and Real Estate Market on November 11, Vice Chairman of the city People's Committee Bui Xuan Cuong reported that by 2025, the city completes four social housing projects with 2,639 units, while 14 projects are currently under construction, comprising 15,412 units.
Additionally, 17 projects have been approved for investment, with a total of 13,959 units. Following the administrative boundary adjustments and the allocation of 20 per cent of land in commercial housing and urban projects for social housing, the city has balanced over 1,400 ha of land for social housing. This will help achieve the target of developing over 25,200 social housing units by 2026 and in the coming years.
On the occasion, the city proposed that the Prime Minister consider using the land allocated for commercial services in industrial zones for social housing for workers and laborers instead of worker accommodations.
Prime Minister Pham Minh Chinh emphasized the need to continue removing obstacles in procedures and processes to contribute to the development of social housing and a transparent real estate market, both in the short and long term.
The Prime Minister also encouraged and called on businesses with clean land funds to coordinate with localities to invest in social housing construction. In the long term, agencies should develop housing schemes suitable for people's financial capabilities. They should study the experiences of other countries to diversify funding sources for social housing and housing in general, with options for purchase, rent, and rent-to-own.
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