On January 16, 2026, IDICO Investment Construction Oil and Natural Gas Joint Stock Company (IDICO-CONAC) – a member of IDICO’s industrial ecosystem, officially commenced construction of the My Xuan B1 Social Housing Project in Phu My Ward, Ho Chi Minh City, an area formerly under Ba Ria – Vung Tau Province.

The project represents a meaningful contribution to the national agenda in celebration of the 14th National Congress of the Communist Party of Viet Nam and demonstrates IDICO’s long-term commitment to advancing inclusive and sustainable urban development. In alignment with the Government’s social housing policies, the project aims to expand access to safe, affordable housing for low- and middle-income workers in the southeastern industrial corridor of the city.

SCALABLE SOCIAL HOUSING MODEL WITH A PEOPLE-CENTRIC DESIGN

The My Xuan B1 Social Housing Project is developed on a land area of over 34,260 square meters, with a total scale of approximately 1,200 apartments. The project comprises three 15-storey apartment buildings (including a 2-storey podium and 13-storey tower) and 34 terraced houses.

The apartments are designed with diverse unit sizes to suit different target groups, while ensuring adequate natural ventilation and lighting. The project fully complies with all relevant regulations on safety, fire prevention and firefighting, and environmental protection.

Beyond residential buildings, the project is developed with integrated technical and social infrastructure, including green areas, community spaces, internal circulation, and essential amenities. This holistic planning approach supports the formation of a modern, inclusive, and resilient residential community, contributing to improved living standards and social cohesion. Upon completion, CONAC GARDEN project is expected to accommodate approximately 3,200 residents, helping to alleviate housing pressure in one of Ho Chi Minh City’s key industrial zones.

Speaking at the ceremony, Mr. Le Ngoc Linh, Deputy Director of the Ho Chi Minh City Department of Construction, stated: “The Department of Construction acknowledges and appreciates IDICO-CONAC’s proactive response to the City’s policy of accelerating project implementation, contributing to meeting social housing development targets. The My Xuan B1 Social Housing Project holds significant importance in expanding the social housing supply in a key industrial area, thereby gradually addressing housing challenges for workers. The project is also expected to help enhance the urban landscape of Phu My Ward, promote socio-economic development, and strengthen social security in the locality.”

IDICO-CONAC’S COMMITMENT TO SUSTAINABLE DEVELOPMENT

With a total investment of approximately VND 850 billion, the My Xuan B1 Social Housing Project is located in Phu My—an important industrial, service, and logistics hub of Viet Nam’s Southern Key Economic Region. The area hosts a dense network of industrial parks, seaports, and a large labor force, underscoring the project’s relevance in supporting sustainable industrial growth.

IDICO-CONAC is committed to implementing the project in strict compliance with legal requirements, ensuring construction quality, occupational safety, and environmental standards. The company aims to deliver the project on schedule to maximize long-term socio-economic value and positive community impact. As part of its broader social responsibility efforts, IDICO-CONAC also contributed VND 200 million to support local social welfare initiatives in Phu My Ward.

Through this investment, IDICO-CONAC seeks to improve housing accessibility for workers and low- to middle-income households, enabling them to settle and work with greater stability and confidence. This, in turn, supports workforce retention, strengthens local communities, and creates a more resilient foundation for the sustainable operation of industrial parks in the region.

The project forms part of IDICO’s long-term development strategy to build a sustainable and harmonized industrial ecosystem with people at its core. It further reinforces IDICO’s role as a responsible developer, committed to balancing economic growth with housing stability for workers, alongside long-term environmental and community value creation.