First 19 customers sign preferential loan contracts for social housing in Long Hung ward

On March 28, the Dong Nai branch of the Vietnam Bank for Social Policies (VBSP), in coordination with Chuong Duong Homeland Joint Stock Company, organized the signing of loan contracts for social housing for the first 19 customers at the project in Long Hung ward.

Representatives of Dong Nai branch of the Vietnam Bank for Social Policies, in coordination with Chuong Duong Homeland Joint Stock Company and customers, signed loan contracts to buy social housing. Photo: Hoang Loc

According to Nguyen Sy Cuong, Deputy Director of VBSP Dong Nai branch, a total of 405 customers from the project have registered for loans, with combined demand exceeding VND 420 billion. Based on this, the bank has advised the provincial People’s Committee to allocate funding from the local budget, largely meeting residents’ borrowing needs. The bank has received 32 loan applications with a total amount of over 36 billion VND; at the same time, it has approved loans for 19 applications with an amount of nearly 20 billion VND.

According to the bank, in 2026, the total capital allocated to the province's program for lending to buy or lease-purchase social housing, and to build, renovate, or repair homes, is more than 1 trillion VND, of which more than 655 billion VND comes from the provincial budget and the remainder from central funding. Since the beginning of the year, the bank has disbursed more than 37 billion VND to 70 customers. The current lending interest rate is 5.4% per year, with a maximum loan term of 25 years.

Social housing buyers sign preferential loan contracts. Photo: Hoang Loc

In the coming period, VBSP will continue to coordinate with local authorities and social housing project investors to organize consultation conferences and provide guidance on loan procedures, while also reviewing and consolidating demand to advise the Provincial People's Committee on balancing and supplementing capital to meet the people's borrowing needs.

The social housing area in Long Hung ward has a scale of nearly 1,100 units, expected to be completed by the end of 2026. Photo: Hoang Loc

The social housing project in Long Hung ward, named Eco Residence, started construction in May 2024, with a scale of nearly 1,100 apartments. The project is expected to be completed and handed over to buyers by the end of 2026.

By Hoang Loc – Translated by Mai Nga, Minho