Where will Vinhomes’ VND 300 million social house be located?

According to Mr. Pham Thieu Hoa, Chairman of Vinhomes, the business has now applied to build a number of social housing projects in Hanoi and Ho Chi Minh City. However, the project is also being implemented in the periphery of other major cities and provinces – where there is a “thirst” for housing for low-income workers – such as Hai Phong, Quang Ninh, Da Nang…

Vinhomes’s social housing will carry the Happy Homes brand. These will be independent urban projects, separate from Vinhomes’s commercial housing projects or social housing land in the great projects of this enterprise. Social houses will be deployed under the “full utility” model, with a scale of 50 – 60 hectares or more.

According to Vinhomes, the Happy Home social housing plan includes 3 types. Type 1, with a selling price of nearly 300 million VND, is apartments in buildings with a maximum height of 7 floors, area from 24 m2 of floor and 12 m2 of loft. Type 2 is apartments in 15 – 21 storey buildings, area from 30 – 50 m2, with the price of 400 – 700 million VND. Type 3 is 3-storey semi-detached houses, with an area of ​​​​50 – 70 m2, maximum selling price of 950 million VND. However, the adjacent type will not be much because Vinhomes gives priority to the construction of high-rise apartments, meeting the needs of the majority of people.

In order to ensure the selling price of less than 1 billion for social housing in “full utility” projects with full schools, commercial centers, children’s playgrounds, sports fields… Vinhomes said it has researched Research very carefully, distilling every bit during design to get the optimal costs.

In addition, Vinhomes must follow the principle that with social housing, only the cost of capital recovery, including interest, and the rated profit of the entire project must not exceed 10% of the total investment cost.

“Because there is no land payment and an unlimited number of small apartments are built, the selling price will definitely be within the range we have given and perfectly match the affordability of low-income people.“, Mr. Hoa confirmed.

Regarding the implementation progress, the Chairman of Vinhomes said: “We plan to start construction in August so that the first buildings will be put into use from June next year. Because the projects are located in the periphery, we will deploy VinFast electric bus routes connecting social housing areas with important intersections to ensure the travel needs of people.“.