Võ Khắc Thái, vice chairman of the HCM City Labour Federation, and Phạm Minh Khánh, chairman of Go Holding, sign an agreement for developing workers’ housing in HCM City on May 25. — VNA/VNS Photo

HCM CITY — HCM City plans to build housing for at least 5,000 workers by 2030 under an agreement signed between its Labour Federation, Go Holding, and Lê Nguyễn Leveling and Construction Company.

Signed on May 25 as part of the city’s target to develop 200,000 social housing units by 2030 amid rising demand for affordable accommodation, the three parties will coordinate land research, investment procedures, legal documentation, and construction.

The housing will include both rental and purchase models.

The Labour Federation will survey workers’ housing demand and support the process of approving eligible tenants and buyers.

Go Holding and Lê Nguyễn Leveling and Construction will study land availability, make investment plans, and develop the projects. A joint working group will be established to monitor progress and mitigate bottlenecks.

Hồ Mai Hùng, general director of Go Holding, said the project, the company’s first investment in housing for low-income workers, aligned with the Government’s orientation to make rental housing for workers a strategic pillar, especially in major urban centres and industrial parks.

He said the housing costs are being calculated based on workers’ average incomes, with total spending on accommodation and daily living targeted at below 60 per cent of monthly earnings to enable workers to also save.

Võ Khắc Thái, vice chairman of the city Labour Federation, said earlier that demand among workers for housing in HCM City is very high.

As of May 2026, more than 3,100 had registered for rental housing, while demand for lease purchase housing exceeded 30,000.

Two companies, PouYuen Vietnam in Tân Tạo Ward and Phú Mỹ Joint Stock Company in Tân Thành Ward, have confirmed demand for around 22,000 apartments under both schemes.

The Labour Federation has signed agreements to develop around 110,000 housing units for low-income workers in Châu Đức and Xuân Sơn communes at an estimated VNĐ7.1 trillion (US$273 million) to accommodate 42,000 people.

Another project in Bình Khánh Commune is also under study. — VNS