Viglacera’s budget housing project gets off ground

photo source: viglacera.com.vn

The VND850-billion project which is one of the four housing projects in Hanoi getting approval to be changed into budget ones is developed in an area of 6.2 hectares. Buildings of the project have six floors and consist of tiny apartments having three different sizes of 33, 44 and 55 square meters.

The project aims to meet the housing demand of low-income earners in Hanoi. Apartments of the project will be sold at under VND9 million per square meter and the very first apartments are to be handed over early next year.

After completion in 2015, the project will add 160,000 square meters of housing to the city and provide accommodation for around 6,000 residents.

Hanoi City Chairman Nguyen The Thao said at the commencement ceremony that the capital city currently had 18 housing projects registered to be converted into low-cost ones.

According Minister of Construction Trinh Dinh Dung, although the property market is in difficulty, the demand of low-cost homes is high. Therefore, adjusting many projects to meet the demand of consumers will help solve the existing mismatch between supply and demand.

Dang Xa new urban area covering 70 hectares consist of 30-hectare Dang Xa 1 and 40-hectare Dang Xa 2 areas.

Dang Xa 1 urban area was kicked off in July, 2004 and has had technical infrastructure facilities completed and 193,000 square meters of houses put into use with 946 apartments for low-income earners. The area is also equipped with school, kindergarten, park, sport facility, parking lot, swimming pool and supermarket.

Meanwhile, Dang Xa 2 urban area got off the ground in January, 2012 with some components such as technical infrastructure of the functional area, trees, swimming pool and parking lot finished.