IFC said in a press release that its US$7.5 million equity investment will support Nam Long’s plan to build more housing units under its EHome brand, which was launched 10 years ago as its first affordable-housing project.
So far, the company has sold more than 3,000 housing units costing between US$25,000 and US$50,000 each, or two to four times the average annual income of most households in the city, making it the market leader of affordable-housing developments. This has contributed to fulfilling the estimated demand of about 70,000 housing units a year from low- to mid-income earners in the city.
In addition to the financing package, IFC is helping the company improve its environmental and social practices, and adopt higher energy-efficiency standards for its buildings.
With IFC’s advice, Nam Long is developing a pilot building with green features that comply with Vietnam’s Building Energy-Efficiency Code, which took effect on November 15 and aims to cut energy costs and greenhouse-gas emissions.
The new building is expected to reduce energy consumption by 20% and is a step toward raising industry standards and promoting sustainability and energy efficiency in Vietnam.
“Although the last few years have been challenging for Vietnam’s property market, there is still strong, fundamental demand for affordable housing as Vietnam continues to urbanize,” said Simon Andrews, IFC’s regional manager for Cambodia, Laos, Myanmar, Thailand, and Vietnam.
Đăng ký: VietNam News