Vietnam infrastructure and housing projects face financial and vacancy challenges

The Long Thành Airport Project is facing significant financial pressure as over 18,276 billion VND in completed construction work remains unpaid across 16 packages. According to the Vietnam Airports Corporation (ACV), while approximately 59,195 billion VND in work has been performed, only 69.1% has been settled. A major portion of the outstanding debt, roughly 8,925 billion VND, is tied to complications regarding changes in material manufacturers, equipment origins, and design adjustments that have yet to receive final appraisal or approval.

In Hanoi, the Department of Construction reported high vacancy rates in several state-managed housing areas. Specifically, the Mỹ Đình II and Pháp Vân - Tứ Hiệp student housing complexes have a combined 5,801 vacant rental spots. In contrast, the CT19A Việt Hưng social housing project maintains a near-full occupancy rate with only two vacant apartments.

Additionally, the Phú Tài Lộc social housing project in Gia Lai province faces potential revocation of its investment policy. The 23-story project, managed by Bình Định Industrial Construction JSC, has stalled following an 85 million VND administrative fine for failing to meet construction progress.