We began today with two classes at UEF, the first on the history/development of Ho Chi Minh City and then another one on the Vietnamese language. In the afternoon, we were given a tour of the corporate headquarters of Phu My Hung and took a bus ride around their development sites.
The Phu My Hung development was significantly different from the environment of the rest of Ho Chi Minh City, and is referred to colloquially by some of the UEF students at “rich city.” It is certainly more affluent than the rest of the city, but its urban planning progress and integration of high-level development technologies make its resurrection of South Saigon a truly remarkable feat.
Although Phu My Hung might not be accessible to Vietnamese of all socioeconomic classes, those who can afford to live in one of its condominiums face a similar home-buying process as in the United States. Potential buyers can sign up for a payment plan directly with Phu My Hung or pay using a mortgage, though the Vietnamese are supposedly more adverse to subscribing to long-term debts than most Americans are.
Phu My Hung was and continues to be environmentally conscious in its construction of the development. Water pollution is kept to a relative minimum as most of the area directly adjacent to the Saigon River is reserved as public park space. Overall, the Phu My Hung development is an ideal example of what Vietnamese developers are capable of in enhancing their country while maintaining their cultural identity and sense of community.