Masterise Homes, Marriott International partner to bring world’s largest branded residences to Vietnam

The joint effort of the two entities - each bringing their impressive experience and expansive expertise in property development and hospitality management - is expected to bring a new ultra-luxury residential product concept of Branded Residences, to Vietnam, elevating and changing the local landscape of residences to truly global luxury standards. The partnership also underscores Masterise Homes’s position as Vietnam’s leading real estate player, reflecting its 6-year transformation to become a reputable world-class property developer.

The agreement is expected to deliver unparalleled luxury living in Vietnam and is set to allow Masterise Homes to extend its development expertise into Vietnam’s fast-growing luxury real estate market, leveraging Marriott International’s global brands such as Marriott, JW Marriott and especially The Ritz-Carlton, one of the most superior luxury brands of Marriott, to introduce Urban Branded Residences to the Vietnamese property market.

Representatives from Masterise Homes (from left: Mr Tran Quoc Hoai, Ms. Nguyen Huong Lien, Mr Jason Turnbull) & representatives from Marriott International (from left: Mr Justin Malcolm, Mr Scott Hodgetts, Mr. Ha Quoc Minh) and honored guests from the US Consulate General in Ho Chi Minh City (middle: Mr. Alexander Tatsis, Economic Section Chief) and AmCham Vietnam (middle: Ms. Mary Tarnowka, former Consul General of the USA in HCMC and Executive Director AmCham Vietnam) at the signing ceremony.

“Masterise Homes has been building renowned properties in Vietnam, and we have solidified our position as an industry leader given our focus on building the real estate ecosystem with premier international standards. Our collaboration with Marriott International is another feature in our cap and, given their global standing, further highlights our capabilities to deliver the best living experiences with world-class standards to our residents,” said Mr. Jason Turnbull, Deputy Managing Director and CFO, Masterise Homes.

Mr Jason Turnbull, Deputy Managing Director and CFO, Masterise Homes delivered a speech at the signing ceremony.

“Vietnam’s growth throughout the years has been very impressive,” remarked Mr. Rajeev Menon – President - Asia Pacific (excluding China), Marriott International.  “We are grateful for the opportunity to work with Materise Homes to realise their vision of building premium communities in Vietnam, and are excited about growing our branded residence footprint in the region.” 

Mr. Rajeev Menon – President - Asia Pacific (excluding China), Marriott International joined at the signing ceremony from Singapore via virtual meeting.

Mr. Alexander Tatsis, Economic Section Chief, US Consulate General at the signing ceremony.

Marriott International is one of the world's leading hoteliers. Since its first hotel opened in 1957, the company has developed a portfolio of over 7,500 properties spanning 132 countries and territories. While premium brands like Marriott offer sophisticated spaces and experiences for upscale customers, luxury brands such as JW Marriott and The Ritz-Carlton provide exceptional bespoke services and amenities that define a new era of luxury.

“Our development will be associated with some of the most renowned brands in Marriott International’s portfolio, such as Marriott, JW Marriott and The Ritz Carlton – which will be the first residences of these brands in Vietnam. Their design, development, management and operation standards will follow the same requirements of any branded residence that carries the same brand around the globe, offering global citizens a privilege to experience world-class ultra-luxury living that is similar to a 5-star JW Marriott branded residence in London or a Ritz Carlton in New York,” added Turnbull.

The projects that are currently in the planning stage are located in both Ho Chi Minh City and Hanoi, and will take the lead in introducing the Urban Branded Residences concept in Vietnam. The Branded Residences experience, as seen in many developed real estate markets, offers tremendous opportunities in Vietnam amidst rising demand for alternative residential products that offer the next level of luxury living. This positive outlook certainly bodes well for upcoming projects between Masterise Homes and Marriott International.

Representatives from Masterise Homes & Marriott International giving flowers to honored guests Mr. Alexander Tatsis, Economic Section Chief, US Consulate General in Ho Chi Minh City, and Ms. Mary Tarnowka, former Consular General of the US in HCMC and Executive Director of Amcham.

Grand Marina Saigon - the first highly anticipated project is situated at a one-of-a-kind location in the heart of Ho Chi Minh City. Its site is the last remaining large plot of developable land at the northern bank of the river within District 1, with a unique waterfront and historical background. The development is a large-scale, mixed-use complex with residential, office and commercial features. It is expected to be Marriott International’s largest branded residence project in the world, and the company’s first foray into Vietnam’s highly vibrant branded residential market segment. The development will also position Masterise Homes as one of the largest real estate players in Ho Chi Minh City, supporting Marriott International’s global portfolio of properties. The complex, envisioned to be ultra-luxe, is set to be a highly exclusive and dynamic community and economic hub at the heart of both Ho Chi Minh City, attracting Vietnam’s tastemakers as well as international high-net-worth individuals.

Masterise Homes is the member of Masterise Group that manages and develops all residential real estate brands of the group. With its philosophy of "Customer Centricity", Masterise Homes relentlessly applies world-class standards in our developments. We are committed to delivering unrivalled quality in all products and services for the ultimate in customer experience, contributing to the community and promoting sustainability, in Vietnam and beyond.

The concept of a branded residence can be traced as far back as the 1920s where the Sherry-Netherland Hotel on Fifth Avenue, New York pioneered the idea of serviced apartments for purchase alongside its successful hotel business. Since this time branded residences have consistently grown in popularity around the world on the back of a growing, globally mobile, high net-worth population.

Marriott International is the world’s biggest player in the branded residences sector. With 100 branded residences across 25 countries, Marriott International brands represent one in every four operational projects globally. The company leverages 15 of its 30 leading brands for branded residential projects, with Marriott, JW Marriott, Ritz-Carlton, St. Regis and W accounting for nearly 70% of today’s operational developments. Marriott International’s extensive brand portfolio means it can offer a brand appropriate for every location and project type, in which a branded residence in New York, Shanghai or Bangkok will have the exactly same quality standard as a branded residence in Vietnam.