Hanoi's government is seeking over US$14 billion in investment to renovate and rebuild 10 old apartment buildings.
Earlier this month, during a conference on investment cooperation and development prospects in the capital, Nguyen Duc Chung, chairman of the Hanoi People’s Committee, announced the financial proposal, reports VietnamNet.
A list of construction components has since been published, detailing the current condition of these living quarters in hopes of mobilizing over VND316 trillion (US$14.14 billion) for complete renovation and reconstruction. The biggest of the 10 projects include Ngoc Khanh and Thanh Cong in Ba Dinh District, Nghia Tan in Cau Giay District and Kim Lien in Dong Da District.
Most of the buildings on the list are more than 50 years old, with some constructed as early as the 1950s, according to Tuoi Tre.
Hanoi is currently home to some 1,500 apartment buildings built before 1994, and another 1,500 old French villas which have existed since before 1954. These old buildings pose a huge risk to the livelihood of their residents due to lack of proper maintenance. Many have shown signs of severe damage such as cracks, mold and tilting.
Just last year, a 110-year-old mansion in Hoan Kiem District collapsed, killing two and injuring another six, an incident which prompted local authorities to evacuate all 16 households living in the complex.
[Photo via Flickr user Khanh Hmoong]
