HCM City to develop 32 million square
meters of housing in 2006-2010
HCM City has set a target of building an additional 32 million
square meters of housing in the next five years to raise the per capita housing
ratio from 10.3 to 14 sq. meters and the total housing area to 101.5 million sq.
meters by 2010.
This is the main goal of an action plan for the city�s housing
development in 2006-2010 period which was announced in a decision of the
municipal People�s Committee.
To achieve the goal, HCM City will issue incentive policies to
encourage the participation of local and foreign individuals and companies in
the housing sector.
Difficulties will be solved so that developers of more than 500
property projects with total land area of over 5,000 hectares can continue their
projects and the real estate market can better develop.
The city will step up the investment and implementation of
programs to build 30,000 houses for resettlement of residents affected by the
construction of key infrastructure projects, relocate 15,000 households living
along the canals in inner-city districts, build 25,000 apartments for low-income
people, civil servants and military officers, and 20,000 rooms for workers at
industrial parks and export processing zones.
Basic infrastructure for residential areas in inner-city
districts such as water supply and drainage and electricity will be built or
upgraded. Apartment buildings at risk of collapse will be rebuilt and more
condominiums will be developed to provide accommodation for people.
Infrastructure for outlying areas will also be developed to
improve the life of rural people. The city will try to raise the ratio of
concrete houses in outlying areas to 20% by 2010.
(Source: The HCM City People's Committee)