Fired with ambition, developers in Ho Chi Minh City aim to give Vietnam two potential entries into the top ten list of the world’s tallest buildings.
Ground breaking was done last month for the 461-metre Landmark 81, and will be carried out in the final quarter for the 86-storey high Empire City Tower.
Dominating a neon-lit riverside metropolis, the two projects will represent a strong statement of intent for this rapidly rising emerging market.
U.S. research agency JLL rates Ho Chi Minh City as the fastest improver among the 120 cities in its Momentum Index.
“We are seeing a lot of both local and foreign investors and developers trying to get a foothold,” Stephen Wyatt, JLL’s country head in Vietnam, said.
There’s much room for growth, with Vietnam’s market valued at $21 billion in 2014 by Nomura Research Institute, compared with Thailand’s $89 billion and Singapore’s $241 billion.