Masterise Homes® hold the Groundbreaking Ceremony of the Grand Marina, Saigon
24-03-2021
(Ho Chi Minh City - March 24, 2021) Masterise Homes® today held the groundbreaking ceremony of the Grand Marina, Saigon - the first ever JW Marriott and Marriott Branded Residences in Vietnam, at the construction site of the project, No. 2 Ton Duc Thang Street, Ben Nghe Ward, District 1, Ho Chi Minh City. The ceremony was witnessed by representatives of strategic partners, main contractors, and local media. The groundbreaking ceremony of the Grand Marina, Saigon is an important milestone, marking the beginning of the journey to create a new focal point of the city and this rapid change, an emblem of a nation's ascent and its promise as a new center of commerce and culture in Southeast Asia.
The Groundbreaking ceremony of Grand Marina, Saigon (from the left to the right: Mr. Ha Quoc Minh - country representative, development for Marriott International, Mr. Jason Turnbull – Deputy Managing Director cum CFO, Masterise Homes®, Mr. Tran Nhat Thanh – Chairman DeltaGroup, Ms. Nguyen Huong Lien – Representative of Masterise Group’s BOD, Mr. Tran Kim Long – General Director Newtecons, Mr. Tran The Hoan – Chairman An Phong Group)
Grand Marina, Saigon is located in the heart of District 1, at the iconic Saigon River waterfront. It is a dual brand project encompassing two prestigious brands of JW Marriott and Marriott, and is also a world-class complex with a masterplan featuring a series of manicured public gardens, a waterfront boardwalk.
Addressing the ceremony, Mr. Jason Turnbull, Deputy Managing Director cum Chief Financial Officer at Masterise Home said: “We are proud to be the pioneer to bring the Branded Residences concept into Vietnam and introduce Grand Marina Saigon – a timeless asset, a legacy to be passed on generation after generation. The groundbreaking ceremony today is very meaningful for us as this is an important milestone, realizing the vision of Masterise Homes® of creating exquisite real estate developments to impeccable standards, contributing to the prosperity of the community and society.”
Mr. Jason Turnbull - Deputy Managing Director cum CFO, Masterise Homes® spoke at the event
Mr. Shawn Hill - Senior VP - Development APAC of Marriott International said: “We’re excited to work with Masterise Homes® to add Grand Marina Saigon to what is sure to be an extraordinary project to our growing portfolio of Branded residences projects around the world. We are honored to be a part of this development that will hit multiple landmarks for both parties: the first and largest Branded residences in Vietnam and Ho Chi Minh city; setting new benchmarks for build high quality and ultra- luxury living experience in line with international standards.”
Marriott International will closely participate in every phase of the development of the Grand Marina, Saigon project: from design, construction quality inspection, to management of the project, in accordance with the strict standards of the Marriott brands.
For more information about the project, please visit:
https://masterisehomes.com/grand-marina-saigon
About Masterise Homes®
A pioneer of world-class luxury real-estate development in Vietnam and beyond, Masterise Homes® strives to bring excellence to all aspects of development, operations and management. With an unwavering commitment to quality, we strive for international standards in all of our products and services, delivering the ultimate in customer service, contributing to the community, and working towards a sustainable future.
Website: masterisehomes.com
About Branded Residences
The concept of a branded residence can be traced as far back as the 1920s where the Sherry-Netherland Hotel on Fifth Avenue, New York pioneered the idea of serviced apartments for purchase alongside its successful hotel business. Since this time branded residences have consistently grown in popularity around the world on the back of a growing, globally mobile, high net-worth population.
According to Savills World Research 2019, there are more than 420 branded residence schemes globally. Marriott International is the world’s biggest player in the branded residences sector. With 100 branded residences across 25 countries, Marriott International brands represent one in every four operational projects globally. The company leverages 15 of its 30 leading brands for branded residential projects, with Marriott, JW Marriott, Ritz-Carlton, St. Regis and W accounting for nearly 70% of today’s operational developments. Marriott International’s extensive brand portfolio means it can offer a brand appropriate for every location and project type, in which a branded residence in New York, Shanghai or Bangkok will have the same exactly quality standard as a branded residence in Vietnam.
Branded residences offer many advantages in a crowded global marketplace for luxury property. Globally-mobile, brand conscious wealthy individuals are attracted by brand name, quality design, security and the level of service branded residences offer. Luxury brands have proved appealing to the affluent, by whom they are viewed as a mark of success. While branded residences generally attract a price premium compared to a non-branded property, the value and benefits that owners enjoy often outweighs the premium. Wealthy individuals are also attracted to the trophy status of a branded residential product as it immediately provides the kudos of being associated with the internationally recognized brand. Their appeal makes branded residences a community of like-minded individuals with common values and share a similar level of affluence. Their limited supply also means they are more exclusive – a value highly appreciated by the affluent elites.