Vingroup breaks ground on a rental social housing project in Hưng Yên
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.
HÀ NỘI — Vingroup on Sunday broke ground on a rental housing project under the Phố Hiến social housing development in northern province of Hưng Yên.
The project is located in the cultural and tourism centre of Hưng Yên Province, adjacent to major industrial parks, providing convenient access for workers employed in nearby manufacturing zones.
Residents of the project will have access to the area's existing infrastructure, including internal roads, parking facilities, educational and healthcare services, sports facilities, traditional markets, green spaces and landscaped public areas.
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.
According to the developer, the project was approved following the conversion of nearly 27ha of rice-growing land and carries a total investment of approximately VNĐ6 trillion (US$228 million). Construction is expected to be completed within 60 months.
The entire development covers 31 hectares and includes 5,500 social housing apartments across nine-storey residential buildings, designed to accommodate approximately 11,935 residents. The newly launched rental housing section will comprise a separate nine-storey building with around 320 apartments.
Lê Khắc Hiệp, vice chairman of Vingroup, said the company would work closely with relevant authorities to ensure the completed project is managed and operated effectively while serving the intended beneficiaries.
The Hưng Yên project adds to Vingroup's growing portfolio of rental housing developments aimed at expanding access to affordable accommodation.
Previously, the group announced plans to develop 4,500 rental apartments, equivalent to approximately 146,000 square metres of residential floor space, in Bà Điểm Commune, HCM City. The project is intended to meet long-term rental demand from workers, students, civil servants and residents at reasonable costs.
Separately, Vinhomes, a member of Vingroup, has been selected as the construction contractor for a city rental housing project in Việt Hưng Ward, Hà Nội. The 2.46-ha development will consist of seven residential buildings ranging from 12 to 13 storeys, providing 1,166 apartments with an estimated total investment of more than VNĐ3.56 trillion. — BIZHUB/VNS
