Da Nang approves 2 social housing projects worth $59.2mn

The municipal administration announced on Friday that it had granted approval for the development of the Nui Thanh Social Housing project in Nui Thanh Commune.

The project, whose investor is Ha My Hung Group Joint Stock Company, is set to span some 22,000 square meters and carry a price tag of more than VND880 billion ($33.4 million).

It will be constructed on land plots A1 and A2, designated for worker housing within the Chu Lai Open Economic Zone.

The project is scheduled for implementation over a three-year period from 2026 to 2028.

Designed as a social housing apartment complex, the project is meant to provide homes for beneficiaries eligible under Vietnam’s social housing policies.

In addition, the developer will be allowed to commercially exploit designated residential areas in accordance with Article 85 of the Housing Law.

In a separate decision, the city also approved the Vinh An Hoa social housing project in the commune, assigning Viet Star Holdings Joint Stock Company as the investor.

This project has a preliminary investment of over VND680 billion ($25.8 million) and covers over 18,990 square meters.

It will be located on plots A3 and A4, also within the worker housing zone of the Chu Lai economic zone.

The project is expected to be completed within three years, from 2026 to 2028.

Like the Nui Thanh project, Vinh An Hoa will consist of social housing apartment buildings intended for sale to qualified beneficiaries under state housing policies.

Also, it will include a commercial component managed under the provisions of Article 85 of the Housing Law.