For short-term yes. For long-term, how do you deal with overbuilding and/or large groups of people moving away to the next up-and-coming city, leaving behind a ghost town of empty high rises?
Some overbuilt cities in China or Eastern Europe have that issue.
Zoning and urban planning are very closely interrelated. Zoning (obviously) is an instance of urban planning - and it's very hard to plan a city if you don't have a way of enforcing your plan (zoning).
The China and Eastern Europe ghost-cities are slightly different because the distinction between the zoning authority (government) and the developer is more fluid, but I still think it applies.
Those cities we're built by bureaucracy, not the market. In fact, what you mention is a great example of failed social planning which is taking zoning to the next level.
Some overbuilt cities in China or Eastern Europe have that issue.