Following its international projects in Ho Chi Minh City and Hanoi, Masterise Homes® announced its entry into the Hai Phong real estate market in June with a new project named The Centric.
Establishing Its First Project in the Port City
According to the approved adjustment of Hai Phong’s master plan through 2040 and vision for 2050, Hai Phong is set to become a high-level city among Asia’s and the world’s top cities.
The planning goal for Hai Phong is to develop into a modern, smart, and sustainable industrial hub with excellent domestic and international transportation infrastructure. It aims to be a key service center for logistics and tourism, an international hub for education, training, research, and development in science and technology, and a maritime economic center. The city will follow a multi-center urban model with satellite towns, featuring two belts, three corridors, and three centers.
In this context, Thuy Nguyen is designated for northern development, planned to become a “City Directly Under Hai Phong,” and will drive the expansion of the central urban area north of the Cam River—where the Red Flamboyant Festival 2024 recently attracted over 18,000 attendees.
With this development direction, Hai Phong is increasingly attracting investment interest, including from international real estate developers such as Masterise Homes®.
The Centric by Masterise Homes® in Hai Phong spans over 7.2 hectares, featuring unique, limited-edition Shoptique products creatively developed and patented by Masterise Homes®. The project also includes two commercial and service clusters with designs specifically tailored for Hai Phong, expected to become a new symbol of commerce, entertainment, and culture in the new city center.
Masterise Homes® Enters Hai Phong Real Estate Market
Following its landmark projects in Ho Chi Minh City and Hanoi, Masterise Homes® has announced its debut in the Hai Phong real estate market with a new development named The Centric.
Establishing Its First Project in the Port City
The Centric is strategically located in the “heart of the heart” of Thuy Nguyen, adjacent to two landmark structures of the city: the new Political and Administrative Center and the largest Conference and Performance Center in Hai Phong. This positioning promises to integrate seamlessly into the “prosperity axis” in the area.
The project is designed as an Open-Air Shopping Center, aiming to create a new destination that embodies a lifestyle, shopping, and experiential hub in Hai Phong’s vibrant port city.
“As the first and only project currently within the complex of the new Political and Administrative Center and the largest Conference and Performance Center in Hai Phong, The Centric aligns with the prosperity of Thuy Nguyen in the near future, matching the design style and development progress of the new city. Through this, the project reinforces Masterise Homes®’ vision and effort in creating a premier commercial and service symbol in Thuy Nguyen, Hai Phong’s new city center,” said a representative from Masterise Homes®.
Marking Global Symbolic Projects
Before entering Hai Phong, Masterise Homes® has made its mark with iconic projects in Ho Chi Minh City and Hanoi.
Masterise Homes® gained attention by partnering with Marriott International, the world’s largest hotel group, to develop Southeast Asia’s largest portfolio of luxury real estate. Notably, The Ritz-Carlton Residences, Hanoi, is the first and only project of its kind in Vietnam.
In Ho Chi Minh City, Grand Marina, Saigon, developed by Masterise Homes®, is Marriott International’s largest luxury real estate complex globally. The first tower is now operational with Marriott’s team providing five-star hotel management services.
Residents have praised the service quality at Grand Marina.
Masterise Homes® has also successfully developed The Global City (Do Xuan Hop, An Phu, Thu Duc City). This project is anticipated to become a regional icon in Southeast Asia and a new hub for Ho Chi Minh City, offering a diverse range of modern entertainment, leisure, and shopping amenities. Events at The Global City attract thousands of visitors during festivals.
Within just two years of implementation, The Global City has completed and delivered the first phase. It is estimated that upon full completion, the project will house 40,000 residents and 20,400 office workers.
Masterise Homes® is committed to quality and project timelines, which has bolstered its reputation. By the end of Q1 2024, the company will have completed and delivered seven key projects in Hanoi and Ho Chi Minh City, with over 8,000 apartments and shophouses handed over to customers.
The delivered apartment complexes are managed by Masterise Property Management and have achieved high occupancy rates. For example, LUMIÈRE Riverside (Thao Dien, Thu Duc City, Ho Chi Minh City) reached an 81% occupancy rate just six months after handover.
Masterise Homes®’ achievements in developing prime, large-scale, and internationally significant real estate projects are highly regarded, especially in the face of many market challenges.
