Hanoi to Commence 114 Social Housing Projects to Boost Economic Growth

Hanoi is gearing up to commence 114 social housing projects in the latter half of the year, a move aimed at accelerating the city's economic growth targets. These projects are expected to introduce approximately 46,000 housing units to the market. On July 20, Chairman of the Hanoi People's Committee, Vu Dai Thang, signed and issued Directive No. 16 on promoting social housing development within the city, contributing to the city's 'double-digit' socio-economic growth objectives. The city has set a firm goal to complete the minimum target of 18,700 social housing units assigned by the Prime Minister for 2026. Additionally, it aims to make between 25,000 and 27,000 eligible housing units available to the market. Furthermore, the directive states that Hanoi aims to commence all 114 social housing projects within the last six months of 2026 and expedite construction progress. The objective is to have approximately 77 projects complete their foundation work, making about 46,100 units ready for market supply. Currently, Hanoi has 147 social housing and housing projects for armed forces that have received investment policy approval or have been assigned project owners. These projects encompass a total scale of approximately 132,000 units, with a total investment of about VND 290.5 trillion (approximately $11.4 billion USD). Among these, 30 investment projects have begun construction and are currently underway, accounting for around 24,000 units. Eleven projects are slated to complete their structural framework in 2026, offering about 5,400 units, while the remaining 19 investment projects are expected to be ready for market supply in 2026. To expedite project progress, the city mandates the application of a 'green lane' mechanism for all procedures related to social housing. This will cut the processing time for administrative procedures in planning, investment, land, and construction by at least 50%. Priority will be given to projects with clear land sites ready for commencement in July and August 2026. District-level People's Committees will be delegated the authority to appraise and approve 1/500 detailed urban plans for social housing construction investment projects. They are permitted to approve detailed plans first and then update them into the urban subdivision plans or adjust them accordingly, aiming to complete all detailed plan approvals and adjustments by August 2026. Projects assigned to project owners before March 30, 2026, must complete land clearance by August 15, 2026, at the latest. The city has agreed to allow project owners to undertake the relocation and restoration of underground and above-ground technical infrastructure within the project boundaries, including the movement and restoration of power lines, with these costs to be included in the project's land clearance expenses. The directive also clearly assigns responsibilities to various agencies and units. The Department of Construction will serve as the standing body of the city's special task force, holding bi-weekly meetings. It will appraise feasibility study reports and issue construction permits within a maximum of 10 working days upon receiving complete documentation. The department also encourages project owners to increase the proportion of social housing units for rent in their proposals for projects that have not yet received city approval for investment policy or project owner assignment. Source: VnExpress