The Standing Committee of the Hanoi People's Council has approved this allotment for districts and towns to implement this work.

The municipal Finance Department is responsible for advising the Hanoi People's Committee on budget disbursement to ensure that the district People's Committees use the funds for the proper purposes and in accordance with regulations.

The Construction Department is responsible for overseeing the appraisal of the old apartment buildings and reporting the results to the City's People's Committee.

Earlier, the Steering Committee for renovation and reconstruction of old apartment buildings in Hanoi issued a plan to inspect and assess the quality of old apartment buildings, with an estimated fund of about VND500 billion ($20.8 million) in the 2021-25 period.

The aim is to complete this inspection work before the fourth quarter of 2023, contributing to the city's urban development plan in the coming period.

The city will issue regulations on renovating and rebuilding old apartments, including criteria for selecting investors, compensation coefficients, and specific mechanisms and policies. The drafting of the regulation is expected to be completed in the third quarter of 2022.

According to the city’s plan for the 2021-2030 period, in 2030 the city will renovate and rebuild 10 old apartment buildings, including six condos in the wards of Kim Lien, Trung Tu, Khuong Thuong, Thanh Xuan Bac, Thanh Xuan Nam, and Nghia Tan), and other four dangerous ones in Giang Vo, Thanh Cong, Ngoc Khanh wards and the Ministry of Justice headquarters.

Source: Hanoi Times