HCM City authorities have announced the launch of Phase 1 sales for a major social housing project in the Sonadezi Hữu Phước Residential Area, with prices starting at just VNĐ12.4 million (US$468) per square metre, marking one of the lowest-priced housing offerings in the city amid a worsening affordable housing crisis.
A view of Châu Đức Industrial Park, formerly in Bà Rịa – Vũng Tàu Province and now part of the expanded HCM City. Authorities have announced the launch of Phase 1 sales for a major social housing project within the park. — VNA/VNS Photo
The sale, approved by the HCM City Department of Construction, opens for a one-week registration window from October 15 to 22.
A total of 210 units will be available in this first phase. The price includes 5 per cent VAT, but excludes the 2 per cent maintenance fee.
The Sonadezi Hữu Phước project is located adjacent to Châu Đức Industrial Park, one of southern Việt Nam’s largest and most strategically located industrial zones.
Developed and operated by Sonadezi Châu Đức JSC, the industrial park spans hundreds of hectares and connects directly to key economic corridors, including National Highway 51, the Long Thành – Dầu Giây Expressway, and Cái Mép – Thị Vải Port, a major deep-water seaport.
The park hosts a wide range of manufacturers and logistics providers, employing tens of thousands of workers across multiple sectors.
The new housing project is designed to meet the urgent residential needs of those workers. Units range in size from 25 to 68 square metres, tailored to single workers, young families, and migrant laborers.
Phase 1 includes three high-rise apartment blocks, on-site parking, community areas, and convenience retail shops. A second phase, already approved, will add 1,003 additional apartments on adjacent land.
“This is one of the few social housing projects that’s not only approved but actively selling units,” said an official from the Department of Construction, speaking on condition of anonymity.
With prices significantly below market value, the announcement is expected to draw overwhelming interest.
The project comes at a critical time for HCM City and surrounding provinces.
The central government has set a target to deliver 200,000 affordable housing units in the region by 2030; however, as of mid-2025, only 6,657 units have been completed, representing a mere 3.3 per cent of the goal.
Delays in land clearance, limited developer incentives, and administrative hurdles continue to plague progress.
Unlike many other projects stalled on paper, the Sonadezi initiative is being closely watched as a rare example of an effective public-private partnership, with the developer leveraging its industrial footprint to support long-term workforce housing.
“Lack of affordable housing has been a major factor in staff turnover,” said a logistics manager at a Japanese electronics firm operating in the Industrial Park. “If this model works, it could change how industrial zones retain talent across the country.”
Authorities are urging eligible buyers, particularly low-income workers and those without permanent housing, to begin preparing necessary documents ahead of the application period.