But the wealth of the city has a darker side, with tens of thousands priced out of housing altogether and forced to live in the most degrading conditions.
These pictures by British photographer Brian Cassey capture the misery of people - some estimates put the figure as high as 100,000 - who are forced to live in cages measuring just 6ft by 2 1/2ft.
The city is one of the planet's most densely packed metropolitan areas, with nearly 16,500 people living in every square mile of the territory.
Unscrupulous landlords are charging around US$200 a month for each cage, which are packed 20 to a room, and up to three levels high. Read More