Ho Chi Minh City (HCMC) has existed for over three centuries and has developed into the financial capital and most important economic hub of Vietnam. This profile outlines the history of HCMC's development and its impact on current conditions and physical structure of the city. The paper analyzes some of the problems with respect to urban land use that have occurred in HCMC in the transitional period after Doi Moi and discusses the city's future challenges, in the perspective of climate change and further economic and population growth.