Wednesday , May 31 2023

Hanoi to build 4.1 million square meters of housing in 2023

Hanoi is set to add 4.1 million square meters of housing this year amid forecasts that demand from now until 2030 will be for 89 million square meters.

To meet the demand, it will need an investment of VND880 trillion ($37.5 billion).

It plans to focus on social housing, apartments, leased housing, and housing for industrial workers.

There will be minimal development of apartments in inner-city areas to contain population growth and prevent an overload on infrastructure.

But outside those areas low-rise housing and street houses will be discouraged, and the focus will be on apartments to efficiently utilize lands.

It will develop urban and residential areas in synchrony with infrastructure.

Hanoi added 1.3 million square meters of housing last year, 9% more than planned.

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