As Ho Chi Minh City undergoes rapid urbanization, its green spaces are increasingly under pressure, resulting in significant transformations in land use, ecological functionality, and social value. This chapter examines the evolution of urban green spaces in HCMC through a combination of spatial analysis, historical review, and block-level case studies. We trace the shift from integrated natural systems and colonial-era public parks to fragmented, engineered green infrastructure, and canal encroachments. Particular attention is paid to the interaction between land-use planning, infrastructure development, and socio-economic transitions, revealing systemic patterns of green space decline and disconnection. We propose the concept of nature-driven placemaking—an approach that integrates biophilic design, community engagement, and adaptive governance to foster inclusive and multifunctional urban landscapes. Drawing on examples from HCMC and comparative case studies across Asia, this chapter highlights how nature-based solutions (NbS) can enhance urban resilience, particularly in climate-vulnerable megacities. A strategic framework is proposed for revitalizing historic green assets, rethinking public space design, and embedding ecological priorities into future development. The findings offer insights for planners and policymakers seeking sustainable pathways for green space transformation in fast-growing cities across the Global South.