The Hanoi People’s Committee has submitted a proposal to the City People’s Council for the approval of an investment policy for a municipal rental housing project located in Viet Hung Ward.
According to the proposal, the project will involve the construction of seven residential buildings, each standing 12 to 13 stories tall with two basement levels. The complex will cover approximately 2.46 ha and provide a total of 1,166 apartments.
Categorized as a Group B, Grade I housing project, the development will be managed by the Hanoi Project Management Board of Civil Construction Investment as the primary investor. The total estimated investment exceeds VND3.562 trillion (approx. $136 million), with implementation scheduled for the 2026–2028 period.
The Hanoi People’s Committee stated that the project aims to realize the city’s goal of simultaneously developing commercial and rental housing. Rental housing is identified as a strategic, long-term segment designed to meet the housing needs of various groups, including workers, laborers, students, civil servants, public employees, and members of the armed forces.
City authorities expect the project to provide residents with access to stable, long-term, safe, and affordable housing.
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