(11 Jan 2021)
Marriott has signed an agreement with Vietnam-based
real estate firm Masterise Homes to develop a dual-branded
residential and officetel project in Ho Chi Minh (Saigon).
According to Savills International Development
Consultancy the agreement marks the largest hotel-branded
residential project announced to date worldwide, with close to
4,200 residential and officetel units.
The project is anticipated to include branded
units from two Marriott International brands – JW Marriott and
Expected to open in late 2024, the project will
play a key part of an integrated mixed-use complex slated to
include residential, office and commercial units.
“We are delighted to work with Masterise Homes to
introduce a premium offering for potential homeowners in Vietnam
seeking options affiliated with our globally respected brands,”
said Paul Foskey, Chief Development Officer, Asia Pacific for
Marriott International. “The signing underscores the strong appeal
of the branded residences segment, especially within the Asia
Located in the heart of Saigon, the
dual-branded project is expected to house Marriott residential and officetel units as
well as JW Marriott residential and officetel units.
“Masterise Homes has developed renowned properties
in Vietnam for over six years and solidified its position as an
industry leader with its focus on building a real estate ecosystem
with premier international standards,” said Jason Turnbull, Deputy
Managing Director and Chief Financial Officer for Masterise Homes.
“Marriott International’s commitment to operational excellence
will help bring world-class standards to residents of this dynamic