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2022, HCMC GDP per capita increased 32% from US$1,365 to US$1,800 Development of banking sector and availability of mortgages Legal reform more favorable for real estate development Space of 10 sqm per person pared to 15 sqm per person in Shanghai PPS Hanoi Residential PPS Residential Market (2) Rapid urbanization – HCMC’s population is expected to increase from 7mm in 2022 to 14mm in 2020 Additional need for 60m sqm of residential space of which half is for young families moving out of their parents’ homes, and the remainder for ining city residents Current supply stands at 53m sqm Diamond Plaza PPS Office Market (1) Limited supply in both Ho Chi Minh City and Hanoi since 1998 Only recently have large projects (over 10,000sm) started construction Continuously rising rents reaching the same level as Shanghai High occupancy rates of 95% in both HCMC and Hanoi city centres PPS Office Market (2) Some 540,000sm and 150,000sm of new office space estimated to be required in HCMC and Hanoi respectively by 2022 – Assuming growth in new businesses continues – Vietnamese panies upgrade to keep up with rising standards of professionalism – Arrival of foreign panies and expansion of existing ones Old Shop Houses PPS Retail Market Nascent market with modern formats just starting to emerge Retail space will need to expand 5 times over next 5 years to match stock to population ratios in other Asian cities HCMC only has 2 department stores and 2 hypermarkets, 70 supermarkets, 50 conve