Affordable Housing

Expanding the affordable housing in Vietnam where the housing demand is rapidly increasing.

By

Spacewalk Inc.

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Social causes

Beneficiaries

SDGs covered

Endorsed by

Crevisse Partners

Overview Crevisse, an impact ventures group based in South Korea tackles impossible problems of the world through innovative technology and business.

Market of Implementation

  • Vietnam

Problem

According to Ministry of Construction in Vietnam, it is predicted that 900,000 Affordable Housing (which is Social Housing) will be lacking by 2020. Vietnamese government would like to supply 12,000,000 square meter of Affordable Housing from 2016 to 2020. There is an increasing demand in housing but obtaining a loan from a financial institution, such as Vietnam Bank, for investment is a challenge. There is also a shortage in supply due to the obscurity in the support for infrastructure construction, or lack of budget allocation from the government. The Affordable Housing needs financial investment. Every property are in different conditions so it is difficult for investor to get correct information and accurately predict the demand. Also it is hard for experts to give advice macroscopically in thousands of target areas.

Solution

UNDP SDG (The UN Development Group’s Sustainable Development Goals) suggests “sustainable cities and communities” as one of their goals, and to reach the goal, they discuss about the necessity of “Affordable Housing”. The goal of this project is expanding the Affordable Housing in Vietnam where the housing demand is rapidly increasing. Spacewalk develops solutions for investment of Affordable Housing through artificial intelligence (AI). Construction plan and business costs are deducted which fits the land by a construction algorithms. Initial business plans are created through the use of financial algorithms. Spacewalk searches for the investment method that can create the largest impact targeting hundred thousands of potential targets. Exploration of optimal target area: We can find the most appropriate target area by examining various lands under the same condition as nearly as possible real-time. Exploration of optimal method of project implement: We seek for the optimal method of project implementation by simulating various construction scale, form, and fundraising method in the same lands. This year, we are planning to build a prototype solution and test it on Thừa Thiên-Huế Province as a target.

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