The Bac Ninh provincial government has approved a significant investment project for social housing, with a total estimated cost of approximately 977 billion VND (around $42 million). The project will be undertaken by Dai Dong Thanh Development Company, which was only established a few months ago.

Located in Thuan Thanh Ward, the project will cover an area of about 2.06 hectares and aims to provide stable housing for approximately 1,502 residents. This includes the construction of around 591 social housing apartments and 136 commercial apartments, alongside necessary infrastructure such as transportation systems, green spaces, and parking facilities.

The company is required to ensure financial stability and adhere to legal regulations regarding credit and corporate bonds. They must also complete all financial obligations, including land use fees and taxes, and cannot exploit any policies or engage in corrupt practices during the project implementation.

After the project is approved, the company has a maximum of 12 months to commence construction and must complete the project within 48 months. The project will operate for 50 years from the date of approval.

Dai Dong Thanh, founded on June 19, 2026, is based in Bac Ninh and primarily focuses on real estate development. The company's initial charter capital was set at 320 billion VND, with several shareholders, including Dang Tuan Anh, who serves as the chairman and general director.

The assignment of such a large-scale project to a relatively new company has raised questions about its financial capacity and experience. However, the provincial government is optimistic that the project will contribute positively to the local community and economy.