The capital city must complete revisions to its housing development plan before November 30 to specify project lists, land reserves, funding sources and implementation schedules, with priorities clearly defined.
It is the 22nd social housing project to break ground in the province, adding 950 apartments to the supply of affordable homes in the nothern province..
HoREA believes that codifying this housing segment into law would establish a legal framework encouraging business participation while significantly easing the burden on the State''s social housing programme.
According to the Ministry of Construction’s report, 875 social housing projects with total planned investment of about VNĐ637 trillion (US$24 billion) are being carried out nationwide.
The target exceeds the minimum of 18,700 units assigned to the capital by the Prime Minister and forms part of Hà Nội''s 2026-30 housing development plan, which includes 236 social housing projects.
Nguyễn Xuân Bắc, deputy director of the SBV’s Department of Credit for Economic Sectors, attributed the limited supply of social housing and the small number of projects eligible for loans to the slow disbursement.
Nationwide, 866 social housing projects have been developed with a combined investment of about VNĐ606 trillion (US$23 billion) and a total of 757,338 apartment units.
The rental housing project forms part of the broader Phố Hiến social housing development, which was officially launched on December 19, 2025, by the Hưng Yên Provincial People''s Committee in coordination with Vingroup.
Businesses and industry experts are calling for stronger incentives, easier access to capital and land, and streamlined procedures to accelerate rental housing development in HCM City as home prices rise and demand from urban workers grows.
Thường Tín Commune tops the list with 10 projects, followed by Ô Diên Commune with seven projects and Phúc Thịnh Commune, Tây Phương Commune, Tây Tựu Ward and Đại Mỗ Ward with six projects each.
With housing prices continuing to outpace incomes, rental housing is emerging as an increasingly important pillar of Việt Nam''s housing policy, offering a more realistic path to stable accommodation for millions of people.
Hà Nội has proposed a new regulatory framework allowing the conversion between social housing, commercial housing and resettlement housing projects in an effort to improve the use of underutilised housing stock and respond more flexibly to market demand.