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and economic hub in the heart of Ho Chi Minh
City, attracting Vietnam’s tastemakers as well as
international high-net-worth individuals.
The joint effort of the two entities - each bring-
ing their impressive experience and expansive ex-
pertise in property development and hospitality
management - will bring a new ultra-luxury resi-
dential product concept, Branded residences, to
Vietnam, elevating and changing the local land-
scape of residences to truly global luxury stan-
dards. The partnership also underscores
Masterise Homes’ position as Vietnam’s leading
real estate player, reflecting its six-year transfor-
mation to become a reputable world-class prop-
erty developer.
“Vietnam’s growth throughout the years has
been very impressive,” said Mr. rajeev Menon,
President - asia Pacific (excluding China) at
Marriott International. “We are grateful for the
opportunity to work with Materise Homes, to re-
alize their vision of building premium communi-
ties in Vietnam, and are excited about growing
our branded residence footprint in the region.”
Marriott International is one of the world’s + Mr. Jason Turnbull, Deputy Managing Director and CFO at Masterise Homes, delivers a speech at the
leading hoteliers. Since its first hotel opened in signing ceremony.
1957, the company now encompasses a portfolio
of over 7,500 properties spanning 132 countries
and territories. While premium brands like Mar-
riott offer sophisticated spaces and experiences
for upscale customers, luxury brands such as
JW Marriott and The ritz-Carlton provide excep-
tional bespoke services and amenities that de-
fine a new era of luxury. %

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 res-
idences across 25 countries and territories, Marriott
International brands represent one in every four op-
erational projects globally. The company leverages 15
of its 30 leading brands for branded residential proj-
ects, with Marriott, JW Marriott, The Ritz-Carlton, St.
Regis and W accounting for nearly 70 per cent of
today’s operational developments. Marriott Interna-
tional’s extensive brand portfolio means it can offer a
brand appropriate for every location and project type,
+ Representatives from Masterise Homes and Marriott International present flowers to honored guests
in which a branded residence in New York, Shanghai Mr. Alexander Tatsis, Economic Section Chief at the US Consulate, and Ms. Mary Tarnowka, former US
or Bangkok will have the same exactly quality stan- Consular General in Vietnam and Executive Director of Amcham.
dards 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 ABOUT MASTERISE HOMES ABOUT BRANDED RESIDENCES
are attracted by brand name, quality design, security,
and the level of service branded residences offer. Lux-
ury brands have proved appealing to the affluent, by Masterise Homes is a member of the Masterise The concept of a branded residence can be traced
whom they are viewed as a mark of success. While Group and manages and develops the group’s resi- as far back as the 1920s, when the Sherry-Nether-
branded residences generally attract a price pre- dential real estate brands. With a philosophy of “Cus- land Hotel on Fifth Avenue in New York pioneered the
mium compared to a non-branded property, the value tomer Centricity”, Masterise Homes ceaselessly idea of serviced apartments for purchase alongside
and benefits owners enjoy often outweigh the pre- applies world-class standards in its developments. It its successful hotel business. Branded residences
mium. Wealthy individuals are also attracted to the is committed to delivering unrivalled quality in all have consistently grown in popularity around the
status of a branded residential product, as it imme- products and services for the ultimate in customer world on the back of a growing, globally mobile, high
diately provides the kudos of being associated with experience, contributing to the community and pro- net-worth population.
an internationally recognized brand. Their appeal moting sustainability in Vietnam and beyond.
makes branded residences a community of like-
minded individuals with common values and a similar
level of affluence. Their limited supply also means Masterise Homes: https://masterisehomes.com/
they are more exclusive - a value highly appreciated Marriott International: https://www.marriott.com/marriott/aboutmarriott.mi
by affluent elites.
Marriott Branded Residences: https://marriottresidences.com/

FEBRUARY 2021 | VIETNAM ECONOMIC TIMES | 11