Billions of dong spent building social houses

Friday, Jul 26, 2013 13:53

HA NOI (Biz Hub)— Work began on Wednesday on a social housing project worth VND560 billion (US$26.6 million) in the capital city's Ha Dong District.

The 35-storey building, covering an area of 2,590 square metres, will provide 512 affordable flats to around 2,200 low-income earners when completed in 2015.

It is among the first commercial housing projects to be transformed into social housing by the municipal People's Committee.

The project's investor - Song Da Urban and Industrial Zone Investment and Development JSC - may be eligible to receive a loan of VND200 billion ($9.5 million) from the Government's VND30 trillion-credit package. — VNS

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