Khanh Hoa to build $43 million social housing complex

April 19, 2023 | 16:29

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Early this month, Khanh Hoa People's Committee approved the revised investment policy and the investor for the Hung Phu II social housing project in Nha Trang.

The project will cover a total land area of almost 6,900 square metres.

The procedures for granting a construction permit are set to be completed by the first quarter of 2024, and the housing complex should be in use by March 1, 2025.

Khanh Hoa to build $43 million social housing complex

The project's funding must be secured without relying on the state budget.

Khanh Hoa People's Committee also requires the project developer – the privately held Nguyen Hanh Construction Investment Design Consultant Co., Ltd. – to strictly adhere to the provisions of the laws on investment, planning, land, environment, construction, and fire prevention and fighting, among others.

The project’s duration is 50 years, starting from the date Khanh Hoa People's Committee issued the project’s investment policy.

In light of the investment certificate issued by the Khanh Hoa Department of Planning and Investment, the Hung Phu II social housing project will have a total investment value that surpasses $43.4 million, leveraging the investor’s equity, commercial loans, and other legitimate capital sources.

The project’s duration is 50 years, starting from the date Khanh Hoa People's Committee issued the project’s investment policy.

The investor is responsible for contacting the Khanh Hoa Tax Department to determine the specific incentives for the project in accordance with current laws.

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