Northern Vietnam province launches 2 affordable housing projects totalling nearly 7,840 units

Hung Yen province has broken ground on two affordable housing projects that will deliver nearly 7,840 apartments and rental units for workers and low-income residents, as the government steps up efforts to expand social housing.

The projects comprise a housing development serving the Lien Ha Thai Industrial Park and a rental housing complex within the Pho Hien social housing project.

Speaking at the groundbreaking ceremony last Sunday, Hung Yen People’s Committee Chairman Nguyen Manh Quyen said the province is accelerating social housing development in line with the government’s affordable housing strategy.

Hung Yen aims to complete more than 6,000 social housing units in 2026 and over 56,000 units during the 2026-2030 period, exceeding the targets assigned by the central government, he said.

At the Lien Ha Thai IP, GIP Land Co. Ltd. and Green i-Park JSC will develop seven nine-storey apartment buildings totalling 1,700 social units on a 6.9-hectare site.

The project will also include three six-storey rental buildings with a combined floor area of 17,740 square meters, providing 320 rental apartments capable of accommodating about 700 workers.

Separately, Vinhomes (HoSE: VHM), the property arm of conglomerate Vingroup (HoSE: VIC), is developing the rental housing component of the Pho Hien social housing project.

Located near Hung Yen’s cultural and tourism hub and adjacent to major industrial parks, the development is designed to serve workers, students, civil servants, and other residents. The apartments will feature modern layouts optimized for efficient use of space and are intended to provide higher construction and living standards.

The Pho Hien social housing project spans 31 hectares and will include approximately 5,500 apartments in nine-storey residential buildings, with accommodation for nearly 12,000 residents.

The two projects are expected to help ease housing shortages for industrial workers and low-income households as demand for affordable homes continues to rise in northern Vietnam’s rapidly expanding manufacturing corridor.

The current Hung Yen province, about 55 km from the center of Hanoi, was formed following the merger of Hung Yen and Thai Binh province last July. The merger has consolidated Hung Yen’s position as one of the major industrial hubs in northern Vietnam.

Hung Yen has set a target of becoming a centrally-governed city by 2030, with development centered on a multi-nodal urban-rural network integrated with the Red River landscape, heritage routes, and stronger connectivity with Hanoi. Vietnam currently has seven centrally-governed cities, namely Hanoi, Hai Phong, Danang, Hue, Ho Chi Minh City, Can Tho, and Dong Nai.

As of May 26, Hung Yen had 984 valid foreign-invested projects valued at $17.55 billion, according to provincial authorities. In the first five months of 2026, it recorded 19 newly-registered FDI projects totalling $227.03 million.