Work gets underway on major affordable housing project in Hà Nội
The project is being developed by Vihoce JSC, a company established by the joint venture, and is scheduled for completion in 2030.
HÀ NỘI — Construction of the Tiên Dương 1 social housing project, also known as Tiên Dương Park City, began on Friday in Phúc Thịnh Commune of Hà Nội.
The large-scale development is financed by a joint venture comprising Viglacera Corporation-JSC, Hoàng Thành Investment and Infrastructure Development JSC, and Central Construction JSC. Once completed, the project is expected to supply more than 3,100 affordable apartments to the capital’s housing market.
The project is being developed by Vihoce JSC, a company established by the joint venture, and is scheduled for completion in 2030.
At the ground-breaking ceremony, Nguyễn Văn Dũng, director of Vihoce JSC, said the project would not only expand housing supply for low-income residents, workers and labourers, but also help form a civilised and stable residential community aligned with the future development of Hà Nội’s northern urban area.
Dũng affirmed that his company is committed to fully meeting all obligations related to land use, finance, fire safety, construction standards and supervision by city authorities.
He added that the company will work closely with the Phúc Thịnh Commune People’s Committee on site clearance and infrastructure connectivity with surrounding areas, while mobilising resources in accordance with regulations to ensure the project is completed on schedule.
Phạm Quý Tiên, vice chairman of the municipal People’s Council, commended the investors for their practical contributions to the construction sector, particularly its pioneering role in social housing development.
He praised the launch of another independent social housing project in the capital, describing it as part of a broader series of urban housing developments linked to the Party’s and State’s social welfare policies, aimed at improving living standards for tens of thousands of residents.
The vice chairman called on all parties to strictly carry out land compensation and site clearance, promptly commence construction, and ensure project quality, progress and safety.
He also urged the investors to honour their commitments on schedule and construction standards, while strictly complying with regulations on labour safety, environmental protection and preservation of the surrounding landscape. — VNS
