Phu My Hung New Urban Zone: Rethinking the Future of Sustainable Urban Development

Using a case study approach and interviews with residents, this paper examines the performance of the Phu My Hung New Urban Zone, developed by a private Taiwanese company in cooperation with the Vietnamese government, in the area of sustainable development from three perspectives: economic, social, and environmental. In terms of economic sustainability, this thesis focuses on housing prices, which have not increased abnormally despite the developer's involvement in the local real estate market. In terms of social sustainability, due to the developer-led private governance model, the residents may suffer from a conflict of interest. In terms of environmental sustainability, the orderly urban planning of the site may result in the loss of the site's cultural identity. Since the developer has only 50 years to govern the Phu My Hung New Urban Zone, at the end of that time, whoever is in charge of the area will have to consider the three sustainability indicators of economic, social, and environmental development to bring about a sustainable future for the Phu My Hung New Urban Zone.