Why are there still buyers for luxury apartments worth 400 million/m2?

grand Marian SAigon

Between 2020 and 2021, Vingroup transferred 8 apartment buildings (The Luxury and The Front subdivisions) to Masterise Group, which rebranded the properties as Grand Marina Saigon.

Vinhomes Ba Son, also known as Vinhomes Golden River and developed by Vingroup, stands out as one of Saigon’s most prestigious super projects, offering prime locations and premium pricing.

Spanning over 29 hectares with a construction density of 18.6%, Vinhomes Golden River is situated on Ton Duc Thang Street, adjacent to the Thu Thiem 2 Bridge and near Metro Line 1.

Vinhomes Golden River

The project comprises a complex of luxury apartment buildings and high-end villas, divided into four main subdivisions: The Aqua, The Luxury, The Front, and The Victoria. However, between 2020 and 2021, Vingroup transferred eight apartment buildings from The Luxury and The Front subdivisions to Masterise Group, which rebranded them as Grand Marina Saigon.

Dự án Marriott tại Sài Gòn

Grand Marina Saigon is developed by Masterise Homes, a real estate development company and strategic partner of Marriott International. Newtecons serves as the general construction contractor, while Elegance Real Estate Investment Joint Stock Company is the investor.

Masterise positions the project as “branded real estate,” targeting the luxury segment. The development spans 10 hectares and features 8 residential towers of 45–47 stories, offering over 4,000 apartments ranging from 51 to 106 m², with completion expected in the first quarter of 2024. Marriott- and JW Marriott-branded residences are priced between 18–41 billion VND per unit, equivalent to approximately 350–400 million VND per m².

Why are Vietnam’s elite willing to invest in Marriott-branded apartments in Saigon?

1. Grand Marina Saigon is a branded residence complex under the Marriott and JW Marriott brands—a first for Vietnam—marking a significant milestone in the country’s real estate development. As Ho Chi Minh City’s inaugural Marriott and JW Marriott branded residential complex from Marriott International, Grand Marina Saigon sets a new standard in the luxury market.

Căn hộ hàng hiệu Grand Marina Saigon

2. Grand Marina Saigon stands as the most prestigious luxury residential complex in Ho Chi Minh City, occupying a uniquely distinguished position with significant historical importance. Situated along the iconic Saigon River in the heart of District 1, this luxury apartment complex Grand Marina Saigon not only embodies the essence of prosperity and success but also infuses residents’ lives with positive energy while offering a serene, rejuvenating lifestyle in harmony with nature. This represents the exceptional living experience that Grand Marina Saigon proudly offers to its residents. As an exclusive sanctuary at the city’s core, Grand Marina Saigon grants its residents privileged access to the vitality and prosperity of Ho Chi Minh City’s most dynamic commercial corridor.

3. Grand Marina Saigon’s luxury apartments feature finishes executed to the highest standards, exclusively with premium Italian materials and systems by renowned Italian specialist Fit Out contractor. Italian furnishings represent the epitome of refinement, elegance, and sophisticated living. This is precisely what Italian Fit Out (IFO) delivers to Grand Marina Saigon’s luxury residences:

Nội thất Italy cao cấp tại căn hộ Grand Marina Saigon

+ Handcrafted Italian Furnishings: Utilizing raw materials meticulously sourced from Italy and a team of master artisans with over 50 years of collective experience, Grand Marina’s furniture is produced in IFO’s state-of-the-art 4,000-square-meter Milan facility.

+ Interior Installation by Italian Specialists: IFO brings world-class Italian experts directly to Vietnam to oversee interior installation at Grand Marina, ensuring flawless execution and superior craftsmanship.

+ Rigorous Quality Control: Every detail of the interior finishes is meticulously inspected by IFO, from CNC cutting and surface preparation through painting and leather finishing, both in the Milan factory and during the Vietnamese installation phase. All materials and interior elements must receive approval from Masterise Homes, HBA, and Marriott International.

+ Each interior element IFO completes at Grand Marina Saigon represents a masterpiece that contributes to the overall “precious composition” of this residence—a manifestation of the timeless values that discerning residents aspire to own.

Owning Grand Marina Saigon represents far more than simply purchasing a residence. In addition to acquiring one of Vietnam’s premier properties, you gain the assurance of world-class service delivered by the esteemed 5-star hospitality brand Marriott. This distinction is reserved for the most discerning owners. Residents of these Marriott brand apartments & JW Marriott will enjoy unparalleled 5-star service throughout the year, curated to exclusive international standards, transforming daily life into a continuously luxurious experience.

THE SAIGON LUXURY JOURNAL

September 12, 2023

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