Page 2 - VSIP E-Newsletter Q_1_2012

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Corporate News
P.02
Massive housing project starts at Binh Duong
BINH DUONG — Deputy Prime Minister Hoang
Trung Hai and former State President Nguyen Minh
Triet were among those who attended a
groundbreaking ceremony for a massive social
housing project in the southern province of Binh
Duong yesterday.
The 220-hectare project, to be undertaken by
Becamex IDC Corporation, will spread over 37
sites in five locations — Thu Dau Mot, Thuan An
town, and Di An town and Ben Cat and Tan Uyen
Districts – and have 64,707 apartments.
It will provide total floor space of more than 2.7
million square metres.
Ground was broken for the first three sites
yesterday.
To cost VND10.830 trillion (US$515.7 million), it will provide housing for more than 164,000 people including
workers, people with low income, public servants, and other State beneficiaries.
Those eligible to buy include local urban residents, people whose lands have been acquired for public works,
and those with jobs in Binh Duong but no houses.
The province is also encouraging local companies to buy apartments to provide accommodation for their
workers.
On behalf of Prime Minister Nguyen Tan Dung, Hai appreciated Binh Duong province's leaders for the effort to
improve living conditions for workers and others with low incomes.
The houses will cost VND3 million to VND6 million a square metre, meaning a 30sq.m apartment could cost as
little as VND90 million (US$4,200).