Construction Activities

The World Bank has approved US$53 million to support urban infrastructure development in Lao Cai and Phu Ly, two emerging middle cities in northern Vietnam.


The national housing development strategy targets having 12.5 million square metres of social and affordable housing by 2020.


Hanoi wishes to learn from experience of Italy’s Milan city in urban construction and development for its programme to become a smart city, said Chairman of the municipal People’s Committee Nguyen Duc Chung at a working session with a EU delegation on June 13.


Vietnam’s real estate market attracted over US$600 million in foreign direct investment in the first five months of this year, according to the General Statistics Office.


Prime Minister Nguyen Xuan Phuc has approved a plan to equitise the State-run Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) which has chartered capital of VND3 trillion (US$132 million). 


Real estate sales in May rose slightly month-on-month and compared to the first quarter this year, according to the Ministry of Construction’s Management Agency for Housing and Real Estate Market. 


The Hanoi People’s Committee, BRG Group and Japan’s Sumitomo Corporation signed a cooperation agreement on developing Nhat Tan-Noi Bai urban project with total investment of more than US$4 billion, aiming to build the most modern smart city of Southeast Asia in the north of Hanoi. 


Deputy Prime Minister Vu Duc Dam has suspended the implementation of a master plan for the Son Tra National Tourism Complex in Son Tra Peninsula, Da Nang City for the next three months.


The Ministry of Construction held a national conference in Hanoi on May 26 to review the implementation of the Prime Minister’s Decision No.22/2013/QD-TTg on housing support for those who made contributions to the national liberation revolution.


Vietnam’s major cities are gearing up to develop homes for workers, planning to construct small studios of some 25-50sq.m at the price of 150 million (US$6,500) per unit.

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