Minister of Construction Nguyen Thanh Nghi held talks with Minister of Land, Infrastructure and Transport of the Republic of Korea (RoK) Park Sanwoo in Hanoi on July 16, during which the two ministers inked a memorandum of understanding (MoU) on cooperation between the two ministries in urban and social housing development.

The Ministry of Construction (MoC) has been demanded to coordinate with other ministries and sectors to minimise processes and procedures for implementing social housing projects.

Prime Minister Pham Minh Chinh has emphasised the need to diversify resources for social housing development, from the State, the public, society and financial institutions, in order to provide support for both sellers and buyers.

The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.

VOV.VN - Prime Minister Pham Minh Chinh called for the participation of the Government, State, people, and businesses in dealing with difficulties to promote social housing development at a conference held to discuss this issue on March 16 in Hanoi.

As many as VND531 billion (US$21.7 million) under the VND120 trillion credit package for social housing development has been disbursed, according to Director General of the State Bank of Vietnam (SBV)’s Department of Credit for Economic Sectors Ha Thu Giang.

The Hoa Binh Construction Group announced on February 19 that it has won bidding packages to develop five social housing projects worth US$72 million in Kenya.

VOV.VN - Vietnam is striving to build 130,000 apartments for low-income earners and workers in industrial parks this year in line with a Government Resolution issued in January 2024, said the Ministry of Construction.

Vietnam expects to have 108 social housing projects with over 47,500 apartments completed in 2024, according to the Ministry of Construction.

Real estate remains a good investment channel in the long term, and the market will start recovering in 2024, insiders have said.