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Low-cost housing lacks funding

Update: August, 02/2014 - 08:45
Photo khudothimoi
HA NOI (VNS)— A shortage of capital is threatening the completion of social housing projects for students in tertiary education, workers in industrial zones and low-income earners in Ha Noi, the municipal Department of Construction has said.

At the conference on Wednesday, the department said there were 34 social housing projects that had been left unfinished and were lagging behind schedule due to capital shortages.

Currently, six projects overseeing the construction of dormitories for students have been put on hold due to a lack of funds. Meanwhile, housing projects at the Ha Noi National University of Education, the Ho Chi Minh National Academy of Politics and Public Administration, the University of Forestry and the Electric Power University were reportedly facing VND23 billion ($1.08 million) and VND111 billion ($5.2 million) in capital shortages.

Two dormitory complexes in My Dinh and Phap Van-Tu Hiep also faced a shortage of VND78 billion ($3.6 million) and VND700 billion ($33 million), respectively.

These projects were expected to provide accommodation for more than 39,860 students.

In relation to housing projects for workers, two in the Dong Anh and Chuong My districts had only been partially completed and put into use, reportedly lacking the funds needed to complete the rest of the projects.

Three others in Thach That Industrial Zone, Kim Chung New Residential Area and Nam Phu Xuyen Industrial Zone are facing the same problems.

The projects were initially expected to provide houses for 25,300 workers.

However, the department said that most investors had committed to complete 23 housing projects for low-income earners on time, but admitted some were encountering problems with site clearance and legal procedures. The projects are expected to provide 21,410 apartments for low-income earners in the area.

Vice chairman of the city's People's Committee Nguyen Ngoc Tuan has invited government departments to propose measures to allocate capital for on-going projects.

He has also asked the construction department to work with the management board of the industrial zones to provide accurate information on the housing demand of workers.

Tuan also called on investors to focus on completing the projects soon after receiving financial support. — VNS


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