Construction officially began on June 30 in Uong Bi Ward on a project with a total investment of around VND 130 billion (approximately USD 5 million). It is the first development in the province to create a state owned social housing fund dedicated to rental accommodation.
Tran Hong Minh, minister of construction, speaks at the groundbreaking ceremony (Photo: QMG).
The project will be built on a 3,500-square-metre site and will comprise a seven-storey apartment building with around 150 self-contained units ranging from 27 to 70 square metres. It will also include parking facilities, recreational areas and green spaces, providing accommodation for about 500 residents.
The apartments will be available to industrial workers, low income earners, school pupils and university students in the province and neighbouring areas.
Delegates press the button to launch the project (Photo: QMG).
Bui Van Khang, chairman of the Quang Ninh People's Committee, said the rental housing programme would help create a more balanced and sustainable housing market while expanding access to affordable accommodation for workers and low income groups.
According to the Quang Ninh Department of Construction, the province currently faces a shortage of around 27,000 rental housing units.
To support long-term investment, the Quang Ninh People's Council has allocated initial charter capital of VND 500 billion (approximately USD 19.2 million) to the provincial Housing Fund. Rental income will be reinvested to finance future social housing projects.
Between 2021 and 2030, Quang Ninh estimates it will need 40,214 social housing units, requiring total investment of about VND 25.1 trillion (approximately USD 965 million).
Of that amount, rental social housing projects alone will require around VND 2.357 trillion (approximately USD 90.7 million), including VND 1.906 trillion (approximately USD 73.3 million) for new construction and VND 451 billion (approximately USD 17.3 million) to acquire housing stock from private developers.
Artist's impression of the project (Photo: QMG).
Alongside the Uong Bi project, Quang Ninh is accelerating several other social housing developments. In June, construction also began on projects in Viet Hung, Hoanh Bo and the Van Don Special Zone.
The province has so far completed three social housing projects providing 2,370 apartments and is developing another 15 projects with a combined total of 18,507 units.
Quang Ninh has also earmarked 35 additional sites for future developments, including four designated for the armed forces and one workers' accommodation project.