Phu My Hung New Urban Development in Ho Chi Minh City: Only a partial success of a broader landscape

The Phu My Hung New Urban Development (PMH) in Ho Chi Minh City is a rare successful case in many ways. The developers were able to assemble large tracks of land and secure financial means to finish big components of a megaproject. They have also had motivation to provide ample and affordable public goods and urban services to earn huge profits. However, these incentives can decrease altogether as the developments become sold out. Moreover, PMH is only a part of the Saigon South Master Plan, whose implementation has essentially failed. There are also serious social and environmental concerns.