Last year, HCMC developed additional 11.52 million sqm of housing, raising the total housing supply to 173.77 million sqm, or 19.75 sqm per person on average.
In particular, eight social housing projects were completed last year, with a total land area of 9.6ha, total construction floor area of 314,160sqm, providing 3,728 condos to the market. Also in 2018, HCMC’s Department of Construction appraised 124 commercial housing projects, with a total floor area of over 5,420,000 sqm, and submitted to the municipal People's Committee for approval.
The department plans to develop an additional 8 million sqm of housing this year, raising the total floor area in the city to 178.25 million sqm and average housing area to 19.81 sqm per person by the end of the year.
With regard to the existing CBD, including District 1 and District 3, housing development will be strictly controlled. From now to 2020, no new residential project will be approved.
