Vietnam's branded residences gain international buyers
Vietnam's branded residences gain international buyers
A strong appetite for Marriott Residences and JW Marriott Residences at Grand Marina, Saigon, and The Ritz-Carlton Residences in Hanoi is evident at worldwide sales events.
Some of the world's top developers have seen a fantastic response from international buyers, which is great news for Druce, the international sales agency of Grand Marina, Saigon and The Ritz-Carlton Residences, Hanoi. Developed by Masterise Homes with services provided by Marriott International, the two projects have seen strong buyer interest from Asian and European markets.
Robert Bartlett, CEO of Druce Global said, “We had positive responses with great appetite in various markets. With our 200 years of experience with prime property all over the world, we knew that we could showcase Marriott Residences & JW Marriott Residences at Grand Marina, Saigon and The Ritz-Carlton Residences at The Grand, Hanoi, around the world and that they would look extremely favourable in comparison with non-branded residences in global markets. This showcases Vietnam in the best light and underlines the fact that real estate developments have now met the highest standards of the international market.”
This is not the first time Vietnam has attracted foreign buyers to the branded residence sector. In 2021, Masterise Homes partnered with Asia Bankers’ Club to launch Grand Marina, Saigon in Hong Kong, which had great sales results even amid the pandemic.
These continuous successes highlight the strong demand for investment properties in Vietnam and the international confidence buyers have for branded residences affiliated with Marriott International brands.
They are seen as surefire investments for global investors. Both Druce and Asia Bankers’ Club attributed the success of Grand Marina, Saigon and The Ritz-Carlton Residences, Hanoi, to two key factors: prime location in Vietnam and association with the world’s leading hotelier brands.
The dual–branded Grand Marina, Saigon brings Ho Chi Minh City’s coveted District 1 branded units from two Marriott International brands – JW Marriott and Marriott. Overlooking the northern banks of the Saigon River, this trophy asset fuses uncompromising quality and world-class Italian fittings complemented by the dedicated services and signature amenities from JW Marriott and Marriott. The quality of the development is backed by the strength of the Marriott International brands, its global network and the guarantee of effortless home ownership.
Vietnam’s first Ritz-Carlton Residences are a boutique branded apartment complex featuring 104 units rising up in the heart of the Old Quarter, the city’s main business hub, an enchanting area with captivating architecture, ambience and history.
The Residences are a landmark that marries the best modern amenities with historic workmanship and design. The project attracts a large audience of loyalists and trophy collectors who identify with the legendary brand’s lifestyle while providing a statement of discerning taste and an exceptional eye for choosing the best.
Savvy buyers and luxury lifestyle connoisseurs have more than enough reasons to scoop up these timeless assets. First up is the undeniable prestige of owning a globally recognised branded residence. Then there is the investment appeal of the Vietnam property market.
Since 2015 when Vietnam legalised foreign property ownership, the market has been receiving increasing interest from foreign buyers, especially in the high-end sector.
Dung Duong, executive director at the real estate services and investment firm CBRE said, “With the number of ultra-high-net-worth individuals significantly increasing in Vietnam and foreign investors making a comeback after the pandemic, high-end and luxury properties will continue to receive a lot of interest, especially well-branded projects with assured product quality. Vietnam will see a strong appetite for branded residences as this sector is still in its infancy in the local market and the pricing is more reasonable compared to the regional level, offering greater upside potential.”
In 2021, Marriott International’s milestone branded residential project- Grand Marina, Saigon signified international confidence in the country’s strong fundamentals – and its significance on the global real estate map.
“Vietnam is a vibrant destination and has over the years experienced record levels of tourism as international travellers flocked to the country, and domestic travellers began to discover the many wonders available in their own backyard,” said Emma Smithson, regional director of Residences Operations, Asia Pacific, Marriott International. “With the recent reopening of borders, we are hopeful for Vietnam to rebound rapidly, and we are excited to expand across even more parts of this captivating country.”
As the hospitality company announced plans to expand its portfolio four-fold in the country over the next few years, it continues its vote of confidence in both Vietnam’s positive economic development and the branded residence sector. Buyers can certainly take heart from this.
