(ĐN)- Vietnam's largest property developer, Vingroup, on June 29 announced its entrance into the low-cost housing segment with the 'Happy Town' brand, and each Happy Town condo will have a minimum area of 30 square meters and be priced at some VND200 million each.
(ĐN)- Vietnam’s largest property developer, Vingroup, on June 29 announced its entrance into the low-cost housing segment with the ‘Happy Town’ brand, and each Happy Town condo will have a minimum area of 30 square meters and be priced at some VND200 million each.
Accordingly, the group will plan housing projects at industrial parks in many provinces and cities across the country, except for Ha Noi and HCM city.
In the first phase, Happy Town apartments are expected to be built in Bac Ninh, Binh Duong and Dong Nai, where large numbers of migrant workers are employed at major industrial parks.
According to Nguyen Viet Quang, General Manager of Vingroup, the group does not set profit as its priority target for the Happy Town brand, but it wishes to join hands in solving urgent housing problems for workers and low-income earners.
Vietnam currently has some 2.8 million workers employed at industrial and export processing zones, 1.7 million of whom are in need of housing. However, the market has only met 8-10% of the demand, so most workers have to rent accommodations with very low living standards, affecting their health and labor productivity.
Reported by B.N
