Masterise, Marriott enter strategic long-term partnership

By Anh Nguyen   January 7, 2021 | 04:42 pm GMT+7
Masterise Homes and Marriott International signed a partnership agreement on Jan. 6 with representatives from the U.S. Consulate in Vietnam and American Chamber of Commerce in Vietnam in attendance.
Representatives from Masterise Homes (from L: Tran Quoc Hoai, Nguyen Huong Lien, Jason Turnbull) and representatives from Marriott International (from L: Justin Malcolm, Scott Hodgetts, Ha Quoc Minh) and guests from US Consulate General (C: Alexander Tatsis, Economic Section Chief) and AmCham Vietnam (C:. Mary Tarnowka, former Consular General for the USA in Vietnam and Executive Director AmCham Vietnam) at the signing ceremony. Photo by Masterise Homes.

Representatives from Masterise Homes (from L: Tran Quoc Hoai, Nguyen Huong Lien, Jason Turnbull) and representatives from Marriott International (from L: Justin Malcolm, Scott Hodgetts, Ha Quoc Minh) and guests from US Consulate General (C: Alexander Tatsis, Economic Section Chief) and AmCham Vietnam (C: Mary Tarnowka, former Consular General for the USA in Vietnam and Executive Director AmCham Vietnam) at the signing ceremony. Photo by Masterise Homes.

The joint effort of both entities – each with impressive experience and expansive expertise in property development and hospitality management – is expected to introduce the new ultra-luxurious Branded Residences to Vietnam. The partnership also underscores Masterise Homes’ position as Vietnam’s leading real estate player, reflecting its six-year transformation to become a reputable world-class property developer.

The agreement will allow Masterise Homes to extend its development expertise into Vietnam's fast-growing luxury real estate market, leveraging Marriott International’s global brands like Marriott, JW Marriott and especially The Ritz-Carlton.

"Masterise Homes is building renowned properties in Vietnam, and has solidified its position as an industry leader given our focus on the real estate ecosystem with premier international standards. Collaboration with Marriott International is another feather 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 Jason Turnbull, deputy managing director cum CFO, Masterise Homes.

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

Marriott International is one of the world's leading hoteliers. Since its first hotel opened in 1957, the company now encompasses 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 like JW Marriott and The Ritz-Carlton provide exceptional bespoke services and amenities that define a new era.

"Our development will be associated with some of the most renowned brands in Marriott International’s portfolio, including Marriott, JW Marriott and The Ritz Carlton – the first residences of these brands in Vietnam.

"Their design, development, management and operation standards would follow the same requirements of any branded residence carrying the same brand around the globe, offering global citizens a privilege to experience world-class ultra-luxury living similar to a 5-star JW Marriott branded residence in London or a Ritz Carlton in New York," Turnbull added.

The projects currently in their planning stage are located in both Ho Chi Minh City and Hanoi, and will take the lead in introducing the Urban Branded Residences concept to 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 offering the next level of luxury living.

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 on 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 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 city's heart, attracting Vietnam’s tastemakers as well as international high-net-worth individuals.

 
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