HCM City will limit the construction of new residential high-rises in districts 1, 3, 4, 5, 6, 11 and Phú Nhuận, under a housing development plan for the 2021-2030 period.
The plan has been approved by Lê Hòa Bình, deputy chairman of the city’s People Committee.
In the last 10 years, the population of these seven districts has decreased. So, the city decided to limit the construction of high-rise residential buildings and focus on renovating old apartment buildings built before 1975.
The city, however, will promote investment in technical and social infrastructure for housing projects in districts 8, 10, Bình Thạnh, Tân Bình, Tân Phú and Gò Vấp.
It will give priority to new housing and high-rises in districts with increasing population density, such as Bình Tân, 7 and 12.
The new buildings will be located along main roads that connect with other districts.
The city estimates that it will need VNĐ420 trillion to develop housing projects in the next five years, of which VNĐ219 trillion will be invested in commercial buildings, VNĐ15.7 trillion in social housing, and the rest in residential housing.
This article was originally published in VNS
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Source: Vietnam Insider