Inspection of affordable housing projects to be pursued

The Ministry of Construction intends to inspect six low-income housing projects by three big companies.

The Ministry of Construction intends to inspect six low-income housing projects by Vinaconex, Handico and Viglacera.

No. CT1 Project in Ngo Thi Nham Urban Area

The projects to be inspected are buildings in Kien Hung resettlement area in Ha Dong District which is belong to Vinaconex Xuan Mai Concrete and Construction JSC and Vietnam Construction JSC No.21 and the No.CT1 project in Ngo Thi Nham Urban Area also developed by Vinacotex Xuan Mai Company.

Two other projects will also be under scrutiny in the Sai Dong Urban area, located in Long Bien District, run by the Hanoi Housing Investment and Development Company, Numbers 2 and 5.

Projects of Viglacera Corporation will also be put under inspection are five buildings in the new urban area of Dang Xa, in Gia Lam District, as well as the projects CT1 and CT2, which accounted for 20% of land in the new urban area of Dai Mo area in Tu Liem District.

Recently, as the 'luxury' high-rise market has come to a near standstill, investors have been flocking to affordable housing as a better investment opportunity. This sudden shift had caused problems.

The purpose of the inspection by the Ministry of Construction is to determine if investors are able to deal with their financial and management responsibilities in accordance with regulations. Any problems found in these areas along with suggested policy changes, and violations will be reported.