On the afternoon of 29/5, the Ho Chi Minh City Labor Federation signed a commitment with a group of enterprises within the Thien Phat Company ecosystem. This agreement focuses on housing development for workers and low-income individuals in the area, forming a key part of the city's labor organization's broader goal to construct 100,000 homes for workers over the next five years.

Under the agreement, the enterprises will invest in the construction of these projects. The Ho Chi Minh City Labor Federation will be responsible for surveying demand and coordinating the approval process to ensure that the housing benefits the intended eligible recipients.

Over the next five years, projects will be implemented in various areas experiencing high demand for housing. This year, the enterprises plan to break ground on three projects. These include a worker accommodation area at Linh Trung II Export Processing Zone with 242 apartments.

Perspective view of worker accommodation at Linh Trung II Export Processing Zone. *Photo: Developer*

Another planned project in Binh Duong Ward will span approximately one hectare and feature 847 apartments. This development will integrate a kindergarten, a community activity area, and commercial services.

Additionally, the enterprises intend to develop a project with 1,900 apartments in Binh Co Ward. This will comprise 900 units designated for rental accommodation and 1,000 units offered under a rent-to-own scheme.

According to a representative of the enterprises, the apartments are designed to meet the needs of single workers and small families, offering flexible sizes. Rental prices will be set within State-regulated frameworks to align with workers' incomes.

The enterprises have confirmed that they have prepared land funds and resources to implement additional large-scale projects. These include a residential area of 5,000 units spanning 5,3 hectares in Binh Duong Ward. Another significant development is a social apartment complex of approximately 6,000-7,000 rental and rent-to-own units in Tan Hai Ward, located in the old Vung Tau area.

Nguyen Van Loi, Chairman of Thien Phat's Board of Directors, emphasized that the rent-to-own model provides workers with an opportunity to accumulate assets and gradually own their homes. Under this model, buyers make an initial payment, with the remaining amount converted to equivalent monthly rent. They will then gain full ownership of the apartment after a specific period.

A survey by the Ho Chi Minh City Development Research Institute indicates that over one million people in the area require housing. Of these, over 68% prefer the rent-to-own option, 26% wish to purchase social housing, and nearly 6% choose to rent. Most workers expressed a need for two-bedroom apartments.

Prior to Thien Phat, several other enterprises, including Hoa Sen Group, Phu Cuong Group, and Tan Thuan Industrial Development Company (IPC), also committed to participating in the worker housing development program with the Ho Chi Minh City Labor Federation.

Le Tuyet