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To ensure apartment buildings operate safely, establishing discipline in maintenance fund management and selecting professional operators has become an essential requirement.
Ensuring safety and civility
In the apartment ecosystem, the 2% maintenance fund plays the role of a vital ‘insurance fund’. This fund is formed from contributions by home-buyers (2% of the apartment value before tax) and matching funds from investors.
Before the Housing Law 2023 took effect in mid-2024, managing the maintenance fund often faced challenges due to inadequate oversight mechanisms. However, nearly two years after the Housing Law 2023 came into force, the process has been fully transparent. Investors are now required to open escrow accounts and hand over the maintenance fund to the Management Board according to clear regulations.
Toward professionalism and sustainability
As of early 2026, Hai Phong has rapidly developed high-rise apartments with about 120 apartment buildings (including commercial and public assets), supplying over 35,000 units to the market. The city is focusing on selling more than 4,100 old public apartments to reinvest in infrastructure, while accelerating new social housing projects to meet high demand.
To protect residents’ interests, especially in public asset apartments, the Department of Construction has taken proactive steps. Through directives, the authority requires responsible units to conduct comprehensive reviews, ensuring all systems (from elevators and drainage to fire prevention) are in optimal condition, while maintaining financial transparency and publicly disclosing operating revenues and expenses as required.
In Hai Phong, many projects like Vinhomes, Gem Park, Hoang Huy Commerce, and The Minato Residence demand professional management and operations. Apartment management is no longer an isolated issue for individual buildings but part of the city’s smart urban development strategy.
The new legal framework has established a strict discipline corridor for apartment governance in Hai Phong. Effective coordination among state agencies, the professionalism of operating units, and residents’ consensus are the keys to creating civilized living spaces. When operations are conducted systematically and professionally, high-rise apartments will truly become symbols of safety and sustainable development for the port city in the new era./.
Hai Phong News
