International Finance Corporation (IFC) is infusing US$7.5 million into Nam Long Investment Joint Stock Company to build 8,000 houses in HCM city for average income earners.
Nam Long Investment Joint Stock Company General Director Nguyen Vinh Tran, said that IFC has invested heavily to gain a competitive advantage in supplying houses at average prices, especially in the context of current difficulties in the capital market.
Apart from financial investment, IFC has also assisted the company in improving the quality standards for the environment and society as well as implementing international norms on using energy efficiently in property projects.
Nam Long is currently conducting a pilot project for a more environmentally friendly model house design that will reduce energy costs and greenhouse emissions.
The new building is expected to reduce consumption of energy by 20%.
Simon Andrews, IFC’s Regional Manager for Vietnam, Cambodia, Laos, Myanmar and Thailand said that despite the recent slump in the Vietnamese real estate market, housing demand for average income earners remain high due to rapid urbanization.
With the assistance of Nam Long, IFC wants to help average income earners realize their dream of owning a home.
Source : VOV online