Vietnam’s Masterise Homes has launched One Central Saigon, a luxury mixed-use development opposite Ben Thanh Market in central Ho Chi Minh City.
Including retail, dining, and living, One Central Saigon will comprise two towers rising above a retail and commercial podium on an 8,537 sqm site in the former District One, the city’s central commercial area, with four frontages along Pham Ngu Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh streets.
The 19,990 sqm of retail, dining and lifestyle space will be spread across seven above-ground levels and six basement floors, the lowest of which connects directly to Ben Thanh Metro Station.
A 231-key luxury hotel and 420-unit branded residences within the twin towers also marks The Ritz-Carlton’s entry into Vietnam. The Ritz-Carlton Residences, Saigon opens a new chapter in ultra-luxury living, while The Ritz-Carlton, Saigon marks the hotel brand’s debut in Vietnam, reflecting Ho Chi Minh City’s growing appeal to the world, says Masterise.
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The twin-tower form is inspired by Song Long Ngậm Ngọc, the Vietnamese motif of twin dragons playing with a pearl, and ranks among the tallest twin towers in Vietnam, according to Masterise.
The project brings together an international design and construction team, including Arquitectonica as design architect; HBA for interior design; B+H, a member of Surbana Jurong Group, as executive architect; and Turner for project management.
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Masterise says the launch arrives amid growing confidence in Vietnam, as the country records real GDP growth of 8.02% in 2025 and a record US$27.62 billion ($35.3 billion) in foreign direct investment. Notably, they highlight that Ho Chi Minh City received 8.6 million international visitors last year, up 40.3% y-o-y.
“Vietnam has reached the moment where it is ready for a development of the calibre of One Central Saigon,” says Nguyen Thi Minh Phuong, managing director of Southern region at Masterise Group.
She adds: “This is also how we contribute to projecting the image of a modern, confident and culturally rich Vietnam onto the international stage.”
Branded residences are following the same trajectory, affirms Masterise, as Savills reports that branded residences in the Asia-Pacific region increased by 55% over the past five years.
One Central Saigon adds to Masterise’s branded residences portfolio, which includes Grand Marina, Saigon and The Ritz-Carlton Residences, Hanoi at The Grand.
The Ritz-Carlton is a brand under Marriott International. Marriott and Masterise signed in February a four-hotel deal alongside The Ritz-Carlton, Saigon branded residence.
In Can Gio, a coastal district near Ho Chi Minh City, a dual-branded eco-focused resort complex offering 780 keys will include JW Marriott and Four Points by Sheraton hotels.
Meanwhile, in Hanoi, the Co Loa Marriott Hotel is under construction next to the National Exhibition & Convention Center, about 13km from the city centre.
Photos: Masterise
