Thanh Hoa approves Phu Son Social Housing Project with total investment of about 1.55 trillion dong

Recently, Thanh Hoa Provincial People’s Committee issued a decision approving Westminster Vietnam Joint Stock Company as the investor to implement the Phu Son Social Housing Project in Phu Son Ward (the former Thanh Hoa City), now Ha Thanh Ward, contributing to the social housing stock in the area and meeting the housing needs of local residents. The Phu Son Social Housing Project will be implemented on the Phu Son resettlement area, according to planning map No. 73/UBND dated June 13, 2005. Previously, the project had been approved in principle by Thanh Hoa Provincial People’s Committee under Decision No. 1409/QĐ-UBND dated May 12, 2025. According to the decision on investment policy, the project will be carried out on a land area of about 1.6 hectares, for which site clearance has been completed. On this site, the investor will construct two social housing apartment buildings, each 21 stories tall above ground with one basement. The total number of apartments is expected to be about 890, of which 860 are social housing units and 30 are low-rise commercial housing units to be built in shell and exterior finish, expected to serve about 3,000 residents. The project has an initial total investment of about 1,551.4 billion VND. Of this, the investor’s contributed capital is over 310.28 billion VND, with the remaining funds mobilized according to project progress. The project timeline is not more than 36 months from the date the state hands over the land on site. Within 60 days from the date the investor approval decision takes effect, Westminster Vietnam Group Joint Stock Company must complete all procedures related to investment, construction, environment, fire prevention and other legal procedures to qualify for construction start in accordance with regulations. The project duration is not to exceed 50 years from the date the state assigns land. Thanh Hoa Provincial People’s Committee requires the investor to arrange sufficient funds and comply fully with the laws on investment, construction, land, environment and real estate business. Additionally, the investor must complete the land allocation filing within 30 days from the date of the approval decision and implement a regime of periodic reporting on project progress in accordance with the Investment Law. Thanh Hoa Provincial People’s Committee assigns Ha Thanh Ward People’s Committee to coordinate with relevant Departments such as the Department of Finance, Department of Construction, Department of Agriculture and Environment to enhance guidance, inspection and supervision during project implementation. The supervision aims to ensure the project is implemented in accordance with the master plan, on schedule and in full compliance with current laws.