Hanoi has launched construction of the Him Lam Phuc Loi social housing project, one of the city's largest affordable housing developments, as authorities pursue ambitious targets to expand housing for low-income residents.

Speaking at the groundbreaking ceremony for the Him Lam Phuc Loi Social Housing Project in Phuc Loi Ward on the morning of July 10, Duong Duc Tuan, vice chairman of the Hanoi People's Committee, said the city aims to complete at least 120,000 social housing units between 2026 and 2030.

Hanoi has also revised its Housing Development Program for 2021 - 2030, estimating demand for approximately 300,000 social housing apartments during the 2026 - 2030 period.

According to Tuan, the targets demonstrate the city's political commitment and responsibility to meet the housing needs of Hanoi residents.

He said 116 social housing projects have already received investment approval and are under development across the capital, with a combined scale of approximately 101,300 apartments.

In addition, Hanoi is implementing 24 housing projects for the People's Public Security forces, covering around 88.24 ha and providing 23,633 apartments.

The city has also agreed with the Ministry of National Defense on 15 land sites, totaling 18.8 ha, for future social housing development.

One of Hanoi's largest social housing developments

According to Tuan, the Him Lam Phuc Loi project is being developed by Him Lam Joint Stock Company under an investment policy approved by the Hanoi People's Committee in Decision No. 4609 dated September 5, 2025.

The project covers approximately 13.5 ha in Phuc Loi Ward.

Scheduled for completion in 2030, it will provide around 4,700 social housing units and 1,000 commercial apartments, accommodating approximately 12,500 residents.

"This is one of the largest social housing projects currently being developed in Hanoi and will make a significant contribution toward the city's social housing targets for 2026 - 2030," Tuan said.

Developer pledges quality and transparency

Duong Cong Minh, a major shareholder of Him Lam Joint Stock Company and chairman of the board of Sacombank, said the Him Lam Phuc Loi project had originally been planned as a commercial housing development.

However, in response to policies introduced by the Party, the Government and the Hanoi People's Committee, and in support of Vietnam's national plan to build at least one million social housing units by 2030, the company voluntarily proposed converting the project from commercial housing to social housing.

The proposal was subsequently approved by the Hanoi People's Committee through an adjustment to the project's investment policy.

Minh said the company is committed to allocating sufficient resources to complete the project on schedule while ensuring construction quality, architectural standards and amenities comparable to those found in commercial housing developments.

He added that apartment prices and sales procedures would be conducted publicly, transparently and in accordance with legal regulations.

Nguyen Le