An artist's impression of the Dragon E-Home social housing development in Long Trường Ward, HCM City. — Photo courtesy of the developer

HCM CITY — HCM City on Tuesday broke ground on a 764-unit social housing project in its eastern Long Trường Ward as Việt Nam's largest city accelerates efforts to expand affordable housing for low-income residents.

The Dragon E-Home project, developed by Phú Long Real Estate Joint Stock Company, will comprise six eight-storey apartment buildings on a nearly 1.9-hectare site within the Dragon Village urban area.

The project will provide 764 apartments ranging from 25 to 69sq.m, along with 34 commercial units for lease, the developer said.

Phú Long said the project follows a new-generation social housing model, with buildings occupying about 40 per cent of the site while the remaining area is allocated to green space and open public areas.

The development is located near the HCM City-Long Thành-Dầu Giây Expressway, Ring Road 3 and Metro Line No. 1.

The project will also have access to existing infrastructure and amenities within the Dragon Village township, including parks, a landscaped lake, outdoor sports facilities and public services.

Speaking at the groundbreaking ceremony, Hoàng Nguyên Dinh, vice chairman of the HCM City People's Committee, said the city was home to more than 14 million people, including large numbers of professionals, factory workers, students and migrant labourers, while demand for affordable housing continued to outstrip supply.

Developing social housing is a key social welfare priority that will help stabilise the workforce and support the city's long-term economic growth, he said, adding that achieving the target would require both government policy support and participation from capable private-sector developers.

The city is stepping up social housing construction under the government's housing programme, aiming to build an additional 181,257 social housing units between 2026 and 2030, including around 50,000 rental units.

City authorities said 41 social housing projects with more than 29,200 units are slated to break ground in the first half of this year, helping the city achieve its target of putting around 36,400 affordable homes into operation by 2027. — VNS