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VietNamNews

$400m needed for student housing

Update: October, 17/2015 - 09:40
A student apartment in My Dinh District, Ha Noi. The Construction Ministry has estimated that about VND9 trillion (US$406.3 million) in funding is needed to build student housing across the country during from 2016-20. — VNA/VNS Photo
HA NOI  (VNS) — The Construction Ministry has estimated that about VND9 trillion (US$406.3 million) in funding is needed to build student housing across the country during from 2016-20.

Funding from either the State budget or Government bonds is needed as it's difficult to get private sector funding for student housing projects, according to the ministry.

Since 2009 the Government has offered incentives to promote housing projects for students.

The housing programme for students is one of the country's key housing programmes besides those for low-income earners, workers at industrial zones or people who contributed to national defence and construction.

According to the ministry, between 2009-15, the Prime Minister approved 95 housing projects for students. So far, 85 projects were finished, accommodating about 200,000 students while the other ten projects are ongoing.

Almost half of the VND9 trillion funding will be spent to finish the 10 above projects. The rest of the funding will be for more housing projects, expected to accommodate 100,000 students.

Under the national housing development Strategy from 2016-20, the country planned to meet housing demand for about 80 per cent of students at universities, colleges and vocational schools nationwide. — VNS

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