The Ministry of Construction and the People’s Committee in the central city of Da Nang have begun construction of four condominium projects for low income earners.
The condominiums are located near Rong and Tran Thi Ly Bridges, and have joint investments by Duc Manh Company and 579 Construction and Investment Company.
The four condominium projects comprise of more than 1,000 apartments, with each apartment over an area of 53.44 square meters, at a total cost of VND500 billion (US$24 million).
Each apartment will cost from VND300-350 million ($14,000-16,486) with two bedrooms, a restroom, a living room and a kitchen.
As per schedule, the four projects will be built within 27 months and buyers will receive the apartments in the third quarter of 2015.
At the groundbreaking ceremony, the investors donated VND100 million to poor families in An Hai Tay Ward of Son Tra District and My An Ward of Ngu Hanh Son District.
