On 30/6, Quang Ninh province commenced a rental social housing project in Uong Bi ward. The project has a total investment of approximately 130 billion VND, entirely funded by the Quang Ninh Provincial Housing Fund. This marks the first project to establish a state-owned housing fund for rent within the province.

The project is being built on a 3,500 m2 plot of land and features a seven-story apartment building with approximately 150 self-contained units, ranging from 27 to 70 m2. It includes integrated parking, a playground, and green spaces, providing stable accommodation for about 500 people. Eligible tenants include workers, low-income individuals, students, and university students from the area and nearby regions.

According to Bui Van Khang, Chairman of the Quang Ninh Provincial People's Committee, this investment in rental housing aims to gradually foster a balanced, sustainable housing market. It also creates more opportunities for workers and low-income groups to access affordable accommodation.

Perspective of rental housing in Uong Bi ward. Photo: QMG

Statistics from the Quang Ninh Department of Construction indicate a provincial shortage of approximately 27,000 rental housing units. To ensure long-term investment resources, the Provincial People's Council allocated an initial charter capital of 500 billion VND to the Quang Ninh Provincial Housing Fund. This establishes a revolving capital mechanism, using rental income to fund new projects.

For the 2021-2030 period, Quang Ninh projects a need for 40,214 social housing units, requiring a total capital of approximately 25,100 billion VND. Rental social housing alone accounts for about 2,357 billion VND of this, with 1,906 billion VND designated for new construction and 451 billion VND for acquiring existing housing stock from developers.

In addition to the Uong Bi project, Quang Ninh is accelerating numerous other social housing initiatives. In June, the province commenced additional projects in Viet Hung, Hoanh Bo, and the Van Don special economic zone.

To date, Quang Ninh has completed three social housing projects, totaling 2,370 units, and is currently implementing 15 projects comprising 18,507 units. The province has also allocated 35 land plots for future developer selection; four of these are designated for armed forces personnel, and one project will provide accommodation for workers.

Le Tan