Hanoi Allocates 1,559 Square Meters for Social Housing
On November 5, Hanoi allocated about 1,559 square meters of land in Đan Phượng Commune to Công ty CP Vật liệu xanh Đông Dương for a social housing project. The developer has a 50-year land-use term and must pay land-use fees and meet other financial obligations.
Hanoi Vice Chair Bùi Duy Cường signed Decision No. 6088/QĐ-UBND on November 5, 2026, allocating 1,559.07 square meters of land in Đan Phượng Commune to Công ty CP Vật liệu xanh Đông Dương for the Đan Phượng social housing construction project.
Illustrative image provided by the Hanoi city government portal.（VietVance）
Under the decision, the developer may use the land for 50 years from the date the chair of the Hanoi city government signed it. Apartment owners may obtain certificates of land-use rights and ownership of assets attached to the land for their apartments and shares of the commonly used land, with long-term, stable tenure.
The land was allocated without an auction of land-use rights or a tender to select an investor, and land-use fees will be charged. The Hanoi city government requires the developer to contact the relevant agencies to pay fees and meet its other financial obligations. Those agencies will inspect and guide the developer in fulfilling its obligations as a land user, according to their responsibilities.
The company was founded in January 2022 as Công ty CP XD Thương mại Tây Hồ, with residential construction as its main business. It adopted its current name in April 2024. Its registered capital rose from VND 20 billion at its founding to VND 40 billion in October 2025, funded entirely by domestic private capital. A business registration change dated May 29, 2026, shows that its legal representative changed from board chair Khúc Thị Dậu to manager Nguyễn Thanh Hiếu.
Source: VietVance
