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vinhomes

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Vietnamese billionaires commit to building 1 million affordable housing units in the country by 2030

  • Some of Vietnam’s largest real estate developers have committed to building over 1 million affordable housing units collectively from now to 2030.
  • On Aug. 1, Bui Xuan Huy, the president of Vietnamese real estate developer Novaland, stated his company’s commitment to developing 200,000 social housing units in Ho Chi Minh City and other southern provinces.
  • Previously, in mid-May, a subsidiary of Vingroup called Vinhomes approved a plan to build 500,000 social housing units priced from VND330 million (approximately $14,108) in Hanoi, Ho Chi Minh City and Da Nang.
  • Vinhomes, which is owned by billionaire Pham Nhat Vuong, is a leading real estate developer in Vietnam and valued at over $10 billion.
  • The Him Lam Group, owned by Duong Cong Minh, who also chairs Vietnamese bank Sacombank, has stated it is ready to develop 75,000 social housing apartments from now to 2030 after resolving some issues related to procedure.

Some of Vietnam’s largest real estate developers have committed to building over 1 million affordable housing units collectively in the country from now to 2030. 

On Aug. 1, Bui Xuan Huy, the billionaire president of Vietnamese real estate developer Novaland, stated his company’s commitment to developing 200,000 social housing units in Ho Chi Minh City and other southern provinces.