Vietnam construction ministry proposes $4.7bn social housing credit package

The Vietnamese Ministry of Construction has proposed a credit package worth VND110 trillion (US$4.7 billion) for the development of social housing projects. Meanwhile, the remaining 30 percent would be allocated to developers of social housing projects. The regulation that profits from social housing projects must not exceed the total investment in the projects by 10 percent has discouraged real estate enterprises to develop social housing projects. The Vietnamese Ministry of Construction has proposed a credit package worth VND110 trillion (US$4.7 billion) for the development of social housing projects. The regulation that profits from social housing projects must not exceed the total investment in the projects by 10 percent has discouraged real estate enterprises to develop social housing projects.