The rapid growth of Vietnam’s super-rich means multi-billion dollar developments are rising across this ancient city, separating the wealthy with walls and 24-hour private security from street hawkers, congestion and pollution The multi-billion dollar Ciputra International City complex, in northwest Hanoi, covers 300 hectares (741 acres) of former farmland with mansions, private schools, a clubhouse and fine wine store. Surrounded by thick concrete walls and guarded gates, it is a private enclave of ostentatious wealth – a paradise for the Vietnamese capital’s expatriate and local elite. Inside the gates, wide roads are flanked by luxury cars, palm trees and giant statues of Greek gods. Across the city, work is under way at Ecopark, a grand, $8bn (£5bn) private development being built on the eastern edge of Hanoi. Set to be completed in 2020, it promises secluded luxury with a private university, purpose-built “old town” and 18-hole golf course among the amenities planned. The first phase of the development, named Palm Springs – after the California desert resort city famous for hot springs, golf courses and five-star hotels – has just been completed. Continue reading...
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