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More low-income housing projects to be developed

Update: May, 04/2013 - 09:22

HA NOI (VNS)— Twenty-four commercial housing projects containing more than 24,860 apartments have so far been registered for conversion to low-income housing, according to the Ministry of Construction's report.

Of them, six projects with a total of 8,000 units are in Ha Noi and 16 with a total of 12,000 units are in HCM City.

According to the ministry, investors remain hesitant about converting their properties due to complicated and overlapped procedures.

The ministry has said it would provide incentives to encourage developers to focus on social housing. It also said the Bank for Investment and Development of Viet Nam would implement a loan package worth VND30 trillion (US$1.428 billion) for housing over the next two years.-VNS

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