Hanoi to Spend VND500bn in New Plan to Renovate Old Apartment Buildings

Between 2021 and 2025, Hanoi plans to spend VND500 billion (US$28.1 million) on inspecting and assessing the quality of old apartment buildings in the city.

Zing reports that the Hanoi People's Committee recently issued a plan to renovate many old apartment buildings in the city. The first priority is forming a Construction Department that will then carry out a master plan to inspect and categorize old apartments according to the criteria in Decree 69/2021.

The estimated budget for the inspection phase is approximately VND500 billion. Post-inspection period, the city will then develop and issue plans to renovate or rebuild as needed. In the rebuilding phase, there will be three ways of choosing investors: the owners pick for themselves, selection via auction, or the State will carry out the project with its budget. 

As of 2020, there were over 1,500 old apartment buildings, mostly built between 1960 and 1994, in the capital. Units in these complexes can be as small as 30 square meters, housing 5–6 people in some cases. It is expected that the inspection will include 200–300 more buildings as it progresses.