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.

The State Bank of Vietnam (SBV) will step up the information work to further popularise the social housing loan package among the public given its sluggish disbursement, SBV Governor Nguyen Thi Hong said at a question and answer session of the 15th National Assembly in Hanoi on November 6.

To date, 10 provinces have sent their lists of projects for access to a VND120 trillion (US$5.11 billion) housing credit package, heard an online conference on reviewing a resolution to remove difficulties for the development of the real estate market chaired by Prime Minister Pham Minh Chinh on August 3.

In an effort to address the ongoing challenges faced by the domestic real estate market, an approach encompassing legal, administrative, and financial solutions is urgently required, particularly in the realm of credit.

The steel market is likely to recover in the third and fourth quarters of this year thanks to augmented efforts to disburse public investment and credit packages for social housing projects, along with positive signs of the Vietnamese economy, said Vice Chairman of the Vietnam Steel Association (VSA) Doan Danh Tuan.

VOV.VN - With the Government’s efforts to accelerate the disbursement of public investment, credit packages for social housing projects, and positive signs for the Vietnamese economy, the steel market is likely to rebound ahead in the third and fourth quarters of the year, according to industry insiders.