Economy Too many challenges in social housing development: companies

Apartment buildings are seen in District 2, Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Several difficulties, including low profit margin and complicated procedures, are making real estate developers reluctant in developing social housing projects despite high demand.

In 17 manufacturing hubs across Ho Chi Minh City, only 8 percent of staff are living in designated accommodation, while the rest rent externally, chairman of HCMC Real Estate Association (HoREA) Le Hoang Chau told a recent forum.

The biggest employer in the city, footwear maker Pouyuen in Binh Tan District, have 80 percent of employees renting houses in the neighboring province of Long An, he added.

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