An artist's impression of the Lamer 2 Quy Nhơn apartment project, invested by Tân Đại Minh Investment Limited Company. — Photo tuoitrethudo.vn

HÀ NỘI — The Gia Lai provincial People’s Committee has approved an investment policy for a social housing project in Quy Nhơn Bắc Ward.

The project features two 18-story apartment blocks and is designed to accommodate a population of nearly 2,600 people.

The People’s Committee approved the investment policy and appointed Tân Đại Minh Investment Limited Company as the investor of the project on the west side of Trần Nhân Tông 2 Street (Lamer 3).

The Lamer 3 social housing project covers an area of more than 1.6 hectares, with a total investment of over VNĐ901 billion (US$34.5 million).

It will provide approximately 858 social housing apartments, serving a population of about 2,574 people.

The project scale consists of two 18-story apartment blocks (Block A and Block B), connected by a four-story podium, along with one basement level.

The complex will include community activity areas, parking facilities, a transformer station and technical rooms for operation and management.

The project’s operating period is 50 years. The implementation schedule runs from November this year to December 2030.

The People’s Committee requires the investor to ensure synchronised development of housing, technical infrastructure, and social infrastructure in accordance with regulations and to advance funds for compensation and resettlement support for site clearance, which will be included in total investment costs and used as a basis for determining future selling prices.

According to a report, Gia Lai has attracted 172 investment projects as of November 30, exceeding the annual target of 165 projects.

Total registered capital reached VNĐ157.05 trillion, including 156 domestic projects with more than VNĐ121.365 trillion and 16 foreign direct investment projects with VNĐ35.683 trillion, equivalent to approximately $1.427 billion. — VNS