Apartments converted for social housing

Saturday, Dec 28, 2013 10:23

A view of social housing area in District 12, HCM City. Photo

HCM CITY (Biz Hub)— The People's Committee of HCM City has approved the conversion of 360 apartments in a 15-storey building for use as a social housing project.

The developer of the project in the Thoi An residential area, the Sai Gon – Gia Dinh Real Estate Joint Stock Company, began construction last Saturday.

The apartments will be sold for VND10-11.6 million per square metre under a proposal by the city's People's Committee.

The 15-ha Thoi An residential area project in District 12 was designed to provide 1,125 units, including 312 townhouses, 99 villas, 354 low-cost apartments and 360 apartments for social housing.

Construction will take 20 months to be completed, said officials.— VNS

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