Ho Chi Minh City needs VND957 trillion for housing development

Ho Chi Minh City needs nearly VND957 trillion for housing development (Photo: SGGP)

The figures were put forth in a report on the program on housing development by Vice Chairwoman of the City People’s Committee Phan Thi Thang, during a session of the City People’s Council on July 6.

Accordingly, Ho Chi Minh City sets a target by 2025, striving for the average housing area of the whole city to reach 23.5 square meters per person; and the total housing area added to the city in the 2021-2025 period will reach 50 million square meters of floor space, equivalent to about 367,000 houses.

In this period, Ho Chi Minh City focuses on developing housing in areas along the connection points of key public transport routes; review and adjust planning to create and clearly identify land funds for housing project development in developed inner city districts.

In the period 2026-2030, Ho Chi Minh City sets a target that by 2025, the average housing area of the whole city will reach 26.5 square meters per person; the total housing area added to the city in the period 2026-2030 will reach 57.5 million square meters of floor space. In this period, Ho Chi Minh City focuses on developing housing in areas connecting to key public transport routes, strongly developing housing in developed urban districts.

Along with that, the city will develop technical and social infrastructure and planning, create a land fund for project development in suburban districts, and give priority to creating favorable conditions for the development of affordable housing projects for the majority of workers migrated to the city.

The city forecasts that the total demand for social housing in the 2021-2030 period will be about 37 million square meters of floor. In which, the main needs are low-income people in urban areas (15 million square meters of floor space) and workers working in industrial parks and industrial clusters in the city (about 12 million square meters of floor space). Ho Chi Minh City plans to build 14 new official residences in Cu Chi District./.