Ly Thuong Kiet social housing project in Ho Chi Minh City has not received applications or deposits

The Ly Thuong Kiet social housing project developer has issued a formal notice strictly prohibiting all company staff and project management from guiding, promising, or accepting deposits for apartment purchases at the project.

According to the developer, any apartment sales at Ly Thuong Kiet must comply with applicable laws and complete required procedures with competent state agencies. When the project officially opens for sale, relevant information will be published publicly on the Ho Chi Minh City Department of Construction’s website and on the developer’s website.

Developer clarifies deposit and sales procedures

The notice states that, to date, the company has not received any purchase applications. It also says the company does not directly promise or accept deposits from any organization or individual, and has not assigned, cooperated with, or authorized any unit, organization, real estate brokerage, or individual to advertise, broker, or collect deposits for apartment sales.

Accordingly, Duc Manh Joint Stock Company informs all staff and project management that they are strictly prohibited from guiding, brokering, promising, or accepting deposits for apartment purchases at the project. The notice adds that any violations will result in dismissal and that the individual will be held responsible under relevant regulations.

Project details and public interest

The notice is issued as the Ly Thuong Kiet social housing project draws strong public attention due to its central location. The project is located at 324 Ly Thuong Kiet Street, opposite Phu Tho Gymnasium and Trung Vuong Hospital, in an area with stable development and many existing apartment blocks.

Facilities on site include a playground, swimming pool, kindergarten, community facilities, and other integrated infrastructure.

The project covers nearly 1.5 hectares and includes four 25-story blocks, one interconnected basement, with a total of 1,025 apartments: 755 units for sale and 270 units for rent. The developer says construction is planned to be completed, tested for acceptance, and put into use around August this year.

Pricing and allocation information

The developer states that the selling price of the apartments is determined by an independent appraisal unit. Before location adjustments, the projected price is about 21.7 million VND per square meter.

Earlier, at a year-start meeting hosted by HoREA on March 19, HoREA Chairman Le Hoang Chau said the project’s supply is limited. He noted that about 50% of the units are reserved for the armed forces due to the land’s special origin. Of the remaining units, about 70% are prioritized for policy groups such as those affected by land acquisition, leaving only a bit over 100 units for ordinary buyers.

HoREA also reported that, thanks to the project’s location and price advantages, it attracted more than 12,000 expressions of interest by the end of March.

Broader social housing supply in Ho Chi Minh City

HoREA further noted that, to date, the city has 11 social housing projects under construction, with approximately 9,700 apartments.