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VietNamNews

Vinaconex proposes social housing conversion

Update: March, 02/2013 - 04:08

HA NOI (VNS)— The Viet Nam Construction and Import-Export Joint Stock Corporation 2 (Vinaconex 2) proposed converting a building in the Kim Van-Kim Lu New Urban Area in Ha Noi into social housing.

Construction on the 32-floor building, which covers an area of 3,000 square metres, would start in this year's third quarter. The building would be put into use by the end of 2015.

Vinaconex 2 is one of 20 investors proposing to change already planned commercial projects into social housing.

The Ministry of Construction said that a circular on the procedure for such conversions would be issued soon.

The Government is encouraging investors to focus on social housing projects in order to stimulate the real estate market.-VNS

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