Hanoi People’s Committee yesterday started the construction of an apartment building project in Long Bien District with a total investment of VND 250 billion.

These buildings in the new Viet Hung urban area will total 800 apartments, of which, 500 will be leased for those low-income families who wish to rent.

In 2007, Hanoi had a population of nearly four million people, but this figure has sharply increased since Ha Tay province merged into Hanoi last year, said Minister of Construction Nguyen Hong Quan.

“As a result, the housing demands of workers and civil servants increased quickly,” he added.

It is expected that by 2010, Hanoi will need an additional seven million square metres of living space or 18,000 apartments for workers and staff in the capital.

Also, the rent for the apartments will not be allowed to exceed 20 percent of the worker’s income, according to a new policy.

Source: Dan Tri

Translated by Ngoc Hung