Vietnam will need VND30 trillion ($1.57 billion) to develop housing projects in the next five years to meet increasing demands of students, said the Construction Ministry’s Housing and Real Estate Market Management Department. The country would have 4.3 million students in 2015, and 70% of who would need accommodation in dormitories, the Thoi Bao Kinh Te newspaper reported Feb 22, citing the department. Around 4.8 million square meters of housing needs to be built to meet that high demand, the department added. The Construction Ministry has requested the government to allocate VND6 trillion worth of government bonds a year to the construction of student housing. Vietnam now has nearly three million students at 1,020 universities, colleges and vocational schools. The country can only meet 15%-22% of their housing demand, official statistics showed.
