The 4.28-hectare development will provide 1,074 rental apartments for workers across seven 10-storey buildings, along with 55 rental units for experts housed in 14 commercial and service buildings.
The project is scheduled for completion in the fourth quarter of 2027 and is expected to expand rental housing for employees and professionals working in the city's industrial parks.
The project will support social welfare, attract skilled workers and enhance Haiphong's competitiveness in drawing investment.
Haiphong is currently developing 67 social housing projects with more than 85,000 homes. Under its 2021-2030 housing plan, the city aims to complete about 73,500 units, exceeding the central government's target of 49,400.
Officials said 15 rental housing projects are already under development, providing more than 4,900 apartments, with 744 completed and 605 currently available for rent.