Late last week, the joint venture between the Duc Manh Corporation and the 579 Construction and Investment Company broke ground on the Blue House social housing project in Da Nang.

The project, creating 3 residential buildings for local low-income earners, will be constructed at a total cost of nearly 500 billion VND.  They are the 766-apartment An Trung No 2 building in Son Tra District’s An Hai Tay Ward, and the 477-unit Tran Thi Ly No 1 and the 315-apartment Tran Thi Ly No 2 residential blocks in Ngu Hanh Son District’s My An Ward.  Construction of the 3 buildings is expected to take 27 months, and they are scheduled to be put into use late in the 3^rd quarter of 2015.

The ground breaking ceremony

The 53.44 m² units in the 3 buildings will be priced at between 6 million VND and 7 million VND per m².  Each has a living room, 2 bedrooms, and a kitchen, plus 1 or 2 shower rooms.  Buyers can access 10-year term loans from local banks at a maximum interest rate of 6%pa.

At the ground breaking ceremony, the Deputy Minister for Construction, Mr Nguyen Tran Nam, along with the municipal People’s Committee Chairman, Mr Van Huu Chien, urged the project’s developer to expedite the construction work to complete these buildings by the beginning of 2015.  They also hoped that buyers would be able to welcome in the Lunar New Year 2015 in their new homes.