Ho Chi Minh is world’s most improved city, says JLL
Vietnam’s largest city, Ho Chi Minh, has been named the world’s most improved city in JLL’s City Momentum Index, due to its rapidly expanding economy and commercial real estate market.
According to JLL’s latest study on City Momentum, high levels of foreign direct investment (FDI) and infrastructure spending have contributed to make Ho Chi Minh City the biggest upwards mover, ranking at number six overall out of 120 cities.
Major infrastructure investments including Ho Chi Minh’s first metro line are also helping to boost Vietnam’s GDP growth. The city attracted USD 506.3 million in investments in February 2015, a 170.5% rise from the same period last year.
Vietnam is becoming an increasingly attractive destination for multinational companies. Samsung’s USD1.4 billion new facility in Saigon High Tech Park underlines the rising interest from foreign investors.
The city’s strong performance has been boosted by some of the world’s highest levels of office space construction and absorption levels.
JLL Momentum Index Top Five Cities:
- San Jose