TPBank Funds Phase 1 for Nearly 1,500 Social Housing Units in Western HCM city

On August 29, TPBank signed a cooperation agreement to finance the first phase with 130 billion VND, covering the cost of land development for the Le Thanh Tan Kien Social Housing Project, which is being developed by Le Thanh Trading and Construction Co., Ltd.

TPBank Finances Phase 1 of Nearly 1,500 Social Housing Units in Western Saigon.

The signing ceremony between TPBank and Le Thanh Co. took place as part of the groundbreaking ceremony for the Le Thanh Tan Kien Social Housing (NOXH) Project, held on Nguyen Cu Phu Street (Quarter 1, Tan Kien Commune, Binh Chanh District, Ho Chi Minh City).

To facilitate Le Thanh's access to loan capital and expedite the development of the NOXH project, TPBank has agreed to provide a loan of 130 billion VND for a term of 120 months, with a 12-month principal repayment grace period. TPBank is committed to disbursing the loan within 6 months from the date of loan approval.

In return, Le Thanh Co. is committed to cooperating with TPBank in managing the loan to ensure that the NOXH Le Thanh Tan Kien Project progresses as planned.

This project is one of the highest legally completed social housing projects this year, in line with the Government's “Investment in the Construction of at Least 1 Million Social Housing Units for Low-Income Individuals and Industrial Workers for the 2021–2030 Period” scheme. It includes 4 residential towers of 18 stories each and 2 commercial service blocks, expected to provide 1,445 social rental apartments for 49 years, with varying sizes from 25m² to 70m², to be handed over in 2026.

The project is expected to be a “fresh breeze” in the social housing segment for average to low-income workers, contributing to the transformation and enhancing social welfare in the western part of Saigon.

TPBank's decision to partner with Le Thanh on this promising NOXH project demonstrates its active participation in implementing the Government’s and State Bank’s 125,000 billion VND NOXH Loan Program. TPBank is committed to supporting businesses and residents, facilitating credit flow, and addressing challenges in the real estate market, especially in the social housing sector.

A representative from TPBank shared: “The bank proactively approaches NOXH project investors while also communicating directly with potential individual customers. We hope that with concerted efforts, residents will soon gain access to social housing, and investors will promptly access the 125,000 billion VND credit package, contributing to realizing the dream of stable housing and improving living standards for low-income individuals as per the Government's policy.”

In addition to financing NOXH projects, TPBank is actively supporting the transition to a green, sustainable, and low-carbon economy. The bank offers attractive loan packages for businesses with green projects or plans, with an interest rate of just 0% for the first 3 months.

The green projects and plans eligible for TPBank's 0% interest rate are those in priority areas such as renewable energy, clean energy, sustainable transportation, sustainable agriculture, green construction and real estate, and sustainable water and waste management. The total value of the loan package reaches up to 5,000 billion VND.