Part 2: The emergence of Vietnam.
When I arrived in Ho Chi Minh City in late 2008, the tallest building in Vietnam was the Saigon Trade Center (Prudential Building) located in District 1 of Ho Chi Minh City standing at 33-stories and 145 meters high. This stood proudly for another three years until 2011, when the Landmark 72 in Hanoi took over as the tallest building in Vietnam by more than doubling the height of the Saigon Trade Center at 72-stories and 336 meters high. Now, eight years later, the Saigon Trade Center is ranked 9th of the tallest building in Ho Chi Minh City and 26th overall in Vietnam.
At present, there are approximately 28 buildings that are under construction which will be 150 meters or higher. Of these 28 skyscrapers currently underway, more than half are high-end residential buildings. Since 2012, Vietnam saw the construction industry going from US$20 billion market to almost doubling in 2015 at over US$35 billion in a matter of only 3 years.
This rapid growth is an indication that Vietnam is not only one of the fastest developing countries in Asia, but an emerging economy of the world...
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