Making news

Hanoi to develop additional 11 million sq.m of housing in 2018

Hanoi sets a target of developing additional 11 million sq.m of housing in 2018, including 430,000 sq.m of social housing, nearly 348,000 sq.m of resettlement housing and more than 2.1 million sq.m of commercial housing.

The municipal Department of Construction will carry out solutions to remove bottlenecks and bolster real estate market. Adjustments will be made to planning key property projects in parallel with inspections of housing development in the city.

It will supervise local people’s committees, investors and operators to speed up the election of management boards at tenements. Biddings will be held to offer land lease for business services at resettlement houses in the city.

Last year, the city revoked 19 kiosks at resettlement buildings due to use and management violations while arranging space for public activities at 126 out of 179 condominiums.

The capital plans to sell some 1,000 old houses in 2018 and submit 200 billion VND (8.78 million USD) to the State budget.

According to Deputy Director of the municipal Department of Construction Nguyen Chi Dung, the city built more than 11 million sq.m of new housing last year, including nearly 60,700 sq.m of social houses, 164,600 sq.m of resettlement houses and over 2.5 million sq.m of commercial houses.

Currently, the city is branching out social housing projects in Tien Duong commune (Dong Anh district), Co Bi commune (Gia Lam district), Ngoc Hoi commune (Thanh Tri district) and Co Nhue ward (Bac Tu Liem district).