One Central Saigon adopts integrated development model in downtown Ho Chi Minh City

Developed by Masterise Homes, the project comprises two towers of 55 and 48 storeys connected by a shared podium. The site occupies a prominent location bounded by Pham Ngu Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh streets.

The project reflects a broader trend in major cities where large-scale developments integrate residential, hospitality, commercial and retail functions into a single destination.

Examples of this model include Marina Bay Sands in Singapore and Burj Khalifa in Dubai, both of which have become prominent urban landmarks while contributing to tourism, commercial activity and real estate development.

Marina Bay Sands integrated resort in Singapore. Photo courtesy of Marina Bay Sands

According to Marina Bay Sands' 2024 annual report, the integrated resort remains a significant contributor to Singapore's tourism and hospitality sector.

In Dubai, the Burj Khalifa has become one of the city's most recognizable landmarks and a major tourism attraction since its completion in 2010.

Research conducted by the Lincoln Institute of Land Policy and the University of Washington in 2020 found that mixed-use developments can influence surrounding property values and urban activity by concentrating residential, commercial and public functions within a single area.

Masterise Homes said One Central Saigon was designed with a similar integrated-development approach, combining residential, hospitality, office and retail components.

The project includes an ultra-luxury hotel, branded residences, Grade A office space, and retail and dining facilities.

Artist's impression of One Central Saigon. Photo courtesy of Masterise Group

Located opposite Ben Thanh Market, the development is intended to connect with the surrounding urban fabric while introducing new commercial and residential space to the city center.

According to Masterise Group, the project's development strategy is based on three main considerations: connectivity, operational standards and changing demand for premium urban living.

The site is adjacent to Ben Thanh Station, which is planned to serve as an interchange for several metro lines in the future, potentially improving accessibility for residents, office workers and visitors.

Mauro Gasparotti, Senior Director and Head of Southeast Asia at Savills Hotels, said transportation infrastructure is a key factor influencing the long-term performance of mixed-use developments.

"Rapid infrastructure development will fundamentally reshape urban growth dynamics and, in particular, create opportunities for more mixed-use developments and branded residences in the future," he said.

The project is also expected to include the first Ritz-Carlton hotel in Ho Chi Minh City, alongside The Ritz-Carlton Residences, through a partnership with Marriott International.

According to Masterise Group, the collaboration is intended to introduce internationally recognized hospitality and residential standards to the project.

The development comes as Vietnam's economy and middle-income population continue to expand. McKinsey forecasts Vietnam's GDP growth at 6.8% in 2026, while the proportion of the population considered part of the global middle class is expected to increase over the coming decade.

Industry reports from organizations including PwC, the Urban Land Institute and Knight Frank have identified Ho Chi Minh City as a market with growing demand for premium residential and hospitality products, supported by urbanization, rising incomes and increasing international investment.

Masterise Group said One Central Saigon is intended to contribute to the city's evolving urban landscape and support its ambitions to attract international visitors, businesses and investment.

The project is currently among a number of large-scale mixed-use developments being developed in central Ho Chi Minh City as the city continues to expand its hospitality, commercial and residential offerings.