C.T Group building housing for the ambitious young of Ho Chi Minh City

Demand is high for social housing in Ho Chi Minh City, especially among young people without great financial backing but good health and the ambition to be a driving force of the city’s development. This is why C.T Group decided to develop the most modern and creative social housing project in Ho Chi Minh City.

Keeping up with young people

At a recent international seminar titled “Social Housing Development in Vietnam – International Solutions and Experiences”, Nguyen Quang, Director of the United Nations Human Settlement Programme (UN-Habitat) in Vietnam, said: "Social housing development plays an important role in economic development, creating jobs and changing living environments."

This means that a social housing project must be accompanied by utilities and sufficient living space for everyone, especially young people, to live, and work, or study.

Binh Chanh district is home to large green spaces

Too often, however, social housing is labelled as “low-income housing”, so quality can tend to be poor. Such thinking needs to change. A representative from C.T Group, which is implementing an international-standard young social housing project in Binh Chanh district, Ho Chi Minh City, said: “The target audience at Saigon Venice is young people who do not have a great deal of assets. The residential community is developing rapidly, with good prospects to achieve prosperity. Therefore, the project’s selling prices will surely suit customers in this segment, with flexible payment methods and optimal financial support policies for everyone to have a comfortable place to live in and good quality life with easy connections.”

Quang from UN-Habitat said: “Of the 17 sustainable development goals to reach by 2030, the 11th is the promotion of sustainable development, tolerance, adaptation, and safety in cities and communities. Criterion 11.1 is to access safe and affordable housing that is also properly used and provide cultured conditions. More than 20 years ago, the Vietnamese government adopted many policies and programmes to promote social housing, and posted remarkable achievements. The field of social housing development has played an important role in economic development, job creation, and improving living environments. However, Vietnam is facing challenges in accessing appropriate housing, as prices are too high.”

Therefore, the challenge for local and foreign real estate developers is to change the definition of “social housing”, applying technology to quench the thirst for housing in young industrial urban areas, such as Binh Chanh urban area in the south of Saigon, which is emerging along with the planning of Metro Line No.3A and according to the development of the southern industrial belt.

Green technology and environment

There are two highlights housing policymakers in Vietnam have agreed upon at recent conferences: the participation of private infrastructure developers and the possibility of technology application in construction. The two factors, plus the support of an effective credit system, would be a solution to changing perceptions.

Saigon Venice is built on the premise of future prosperity among its residents

Never before in Vietnam has technology been as common and diverse in building, trading, and operating real estate as now. Not only are new technologies being introduced in construction, using materials and green designs suitable for the environment and saving energy, they also bring other clear benefits to young social housing projects like AI, with the ability to compute and connect resources to identify the needs of homebuyers and best respond.

Digital finance applications are also needed to make loans, payments, and financial leverage more convenient for everyone. And the most important thing: the Internet of Things (IoT), which can make the administration, operations, and use of a living space highly automated and much safer than traditional models.

That is also why C.T Group, which secured a large land fund in Binh Chanh many years ago, is the leader in the race to offer international-standard housing for young homebuyers, especially after announcing the plans for Saigon Venice urban area with five criteria: business-economy, environment, community, technology, and culture. C.T Group hopes to bring many technological elements into this new urban area, through taking advantage of supporting resources from international organisations that contribute to creating a new “young city”, with the young building a satellite town for the sustainable development of Ho Chi Minh City.