In Da Nang there are currently 229 blocks of social housing, containing a total of 16,281 housing units, which have either been put into use already or are still under construction.  Of this total, the construction costs of 193 of the blocks and their 10,304 units came from the city’s budget whilst the remainder were developed by domestic and foreign investors.  In addition, there is a 14-block apartment project for local workers containing a total of 2,112 units.

The Vicoland Development and Construction Group has entered the city’s real estate market under its brand name “Vincon” to develop social housing projects in the locality.  After completing its first social housing project at residential area No 2 on Nguyen Tri Phuong Street, the group continued with a project to build 658 apartments in 7 blocks of 7-storeys in Son Tra District’s Nai Hien Dong Ward.  To date, 6 out of the 7 blocks have been completed, whilst the final one is now under construction.  However, elevators have yet to be installed in 2 out of the 6 completed blocks.  Vincoland has lost the trust of both the city authorities and local buyers because of the delays in the implementation of the social housing projects. 

A local social housing project

Meanwhile, the joint venture between the Duc Manh Corporation and the 579 Construction and Investment Company is now encountering some difficulties in implementing their social housing projects in the city.  The joint venture recently decided not to proceed with a 7-block, 9-storey project in the Thanh Loc Dan-Hoa Minh residential area.

In the years ahead, the city will focus on implementing clearance, compensation and resettlement for families affected by local development projects, as well as completing the unfinished social housing projects.  In addition, the city authorities will stop buying apartments from housing developers to sell them to local buyers.  Special attention will be paid to helping local social housing developers to enhance the efficiency of their project management as well as their land use.