Construction on the building started last month and is expected to finish by the end of 2010. The investor says buyers will not be allowed to sell their houses for a certain period in order to prevent speculative transactions.
Son said his company plans to start building three 34-storied apartment buildings at Xa La next month and sell the flats two months later.
Nguyen Thang of the Housing and Urban Development Corporation said his firm is preparing to build an apartment building for medium and low income earners in Hanoi’s Me Linh District.
Hanoi Construction Corporation and Vietnam Construction and Import Export Corporation have also announced plans to build a series of low-income apartment buildings soon.
