Foreign buyers are snapping up branded residences in Vietnam

SINGAPORE, Sept. 28, 2022 (GLOBE NEWSWIRE) — This is great news for Druce – the international sales agency for Grand Marina, Saigon and The Ritz-Carlton Residences, Hanoi. Both developed by Masterise Homes with services provided by Marriott International, both projects have attracted strong interest from buyers in the Asian and European markets.

In September 2022, Druce held VIP consulting sessions in Singapore to introduce Marriott-branded residential apartments in Vietnam.

Robert Bartlett, CEO of Druce Global, shared: “We have had positive responses with great appetite in various markets. With our 200 years of experience with premier properties around the world, we knew we could introduce Marriott Residences & JW Marriott Residences at Grand Marina, Saigon and The Ritz-Carlton Residences at The Grand, Hanoi to the world. and that they would look extremely favorable compared to unbranded residences in global markets. This shows Vietnam at its best and highlights the fact that real estate developments now meet the highest standards in the international market.

Investors in Singapore have paid particular attention to Vietnam's branded residences.

Investors in Singapore have paid particular attention to Vietnam’s branded residences.

This is not the first time that Vietnam has attracted foreign buyers in the branded residence sector. In 2021, Masterise Homes partnered with Asia Bankers’ Club to launch Grand Marina, Saigon in Hong Kong, which also achieved strong sales results amid the global pandemic.

These continued successes highlight the strong demand for investment properties in Vietnam and the confidence international buyers have in Marriott International branded resorts.

These are surefire investments for global investors. Both Druce and Asia Bankers’ Club attributed this success to two key factors, including their prime location in Vietnam and their association with the world’s leading hotel brands.

The major dual-brand marina, Saigon brings to Ho Chi Minh City’s coveted District 1 brand units of two Marriott International brands – JW Marriott and Marriott. Overlooking the northern banks of the Saigon River, this trophy asset combines uncompromising quality and world-class Italian amenities complemented by the dedicated services and branded amenities of JW Marriott and Marriott. The quality of the development is based on the strength of the Marriott International brands, its global network and the guarantee of effortless home ownership.

Vietnam’s first Ritz-Carlton Residences, The Ritz-Carlton Residences, Hanoi is a branded apartment complex, comprising 104 units rising in the heart of the Old Quarter, the city’s main business hub. Set in an enchanting neighborhood with captivating architecture, ambiance and history, The Residences is a landmark that marries the finest levels of modern amenities with historic craftsmanship and design. The project attracts a large audience of loyal fans and trophy collectors who identify with the legendary brand’s lifestyle while demonstrating your discerning taste and exceptional eye for choosing only the best.

Discerning buyers and connoisseurs of the luxury lifestyle have more than enough reason to acquire these timeless assets. First, the undeniable prestige of owning a world-renowned brand residence. Then there is the investment attraction of the Vietnamese real estate market.

Since 2015, when Vietnam legalized foreign ownership, there has been growing interest in the market from foreign buyers, especially in the high-end sector.

Dung Duong, executive director of real estate and investment services firm CBRE, said: “With the number of ultra-high net worth individuals increasing dramatically in Vietnam and foreign investors making a comeback after the pandemic, high-end properties and luxury will continue to receive a lot of interest, especially well-branded projects with assured product quality. Vietnam will experience a strong appetite for branded residences as this sector is still in its infancy in the local market and the prices are more reasonable compared to the regional level, which offers greater upside potential.

In 2021, Marriott’s landmark residential project – Grand Marina, Saigon signified international confidence in the country’s strong fundamentals – and its prominence on the global real estate map. “Vietnam is a vibrant destination and has seen record levels of tourism over the years as international travelers flocked to the country and domestic travelers began to discover the many wonders available in their own backyards,” says Emma Smithson, Regional Director of Residence Operations, Asia Pacific, Marriott International. “With the recent reopening of borders, we hope Vietnam will rebound quickly, and we are excited to expand into even more parts of this captivating country.”

As Marriott has announced plans to quadruple its portfolio in Vietnam over the next few years, it continues its vote of confidence in both Vietnam’s positive economic development and the branded residence sector. Buyers can certainly rejoice.

Previous Credit Suisse loses top dealmaker to Citigroup
Next Bank of England seeks to stem bond market turmoil after tax cut storm