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The hot new market for luxury property is Vietnam

The hot new market for luxury property is Vietnam.

´╗┐SINGAPORE (BLOOMBERG) - The Grand Manhattan embraces the latest in New York living.

The 39-story development will house apartments, a hotel, restaurants and some of the most expensive real estate in the country. But instead of Central Park views, it's located in Ho Chi Minh City's District 1, better known as Saigon's Wall Street.

It's the latest brainchild of Bui Thanh Nhon, a former seller of veterinary medicine who's built his Novaland Group into one of Vietnam's largest property companies. The chairman's majority ownership means he's amassed a fortune of around US$800 million, according to the Bloomberg Billionaires Index.

To read more: https://www.straitstimes.com/business/property/the-hot-new-market-for-luxury-property-is-vietnam

Adapted from The Straits Times 19 February 2019.