Becamex IDC Co workers builds houses for low-income residents in southern Binh Duong Province's Thuan An Town in 2012. Nam Long Investment is developing over 2,100 low-income apartments in this district. — Photo nld.com.vn

BINH DUONG ― Nam Long Investment Joint Stock Company is building over 2,100 apartments for low-income residents in southern Binh Duong Province's Thuan An Town, company director Cao Tan Thach announced on May 11.

Each apartment will has an area of 40-60sq.m and come with a purchase price of about VND450 million, or US$21,430. The developments will include parks, swimming pools, supermarkets and schools, and will be built over an area of 12.6ha.

Buyers will receive bank financing of up to 70 per cent of the price, with 15 year mortgages, with funds coming from the Government's VND30 trillion ($1.43 billion) property bailout package.

Officials note that buyers will pay VND3.8 million ($181) monthly, equivalent to a monthly house rent, according to Thach.

Binh Duong has over 800,000 labourers, with about 80 per cent coming from other provinces and cities. ― VNS