After collecting a series of 'golden' land lots in Hanoi and Ho Chi Minh City, Masterise Homes pursued the strategy of selling luxury apartments at unprecedentedly high prices.
Masterise Homes has just received the transfer of two more land plots with a total area of more than 7 hectares in the core of the urban center of Vinhomes Grand Park (Thu Duc City, Ho Chi Minh City) by Green City Development Joint Stock Company - a member of Vinhomes. investor. This enterprise plans to build a project in the direction of a high-class compound area with a scale of 10 apartment blocks with 22-39 floors. Previously, in Hanoi, Masterise Homes also bought land plots with the best location in Vinhomes's big projects in Gia Lam and Nam Tu Liem.
Masterise Homes' strategy of collecting gold land fund has been continuously implemented over the past few years. In Ho Chi Minh City, a 25.29-hectare land lot at 2 Ton Duc Thang (District 1, Ho Chi Minh City) was once planned to become the center of the Saigon - Ba Son complex, recently offered for sale by Masterise Homes under the name Grand. Marina Saigon.
Initially, this project was invested by Ba Son Corporation, but later, Ho Chi Minh City Investment, Trade and Service Joint Stock Company (Vincentra) was approved to invest in this project with a total capital of nearly VND 30,000 billion. . By the fourth quarter of 2016, Vincentra subdivided into eight land lots and separated from this grand project for new legal entities to own. Through the hands of many owners, but these 8 land lots have not had much change in construction progress.
Until 2018, a plot of land in this project belonged to the investor from Hong Kong, Alpha King, with the expected development into The Centennial Saigon apartment project. At that time, the project surprised with the selling price of the apartment up to 10,000 USD (about 230 million VND per m2). However, Alpha King did not continue to develop the project but transferred it to a legal entity related to the Masterise Homes ecosystem.
The 4-facade complex, opposite Ben Thanh market, was formerly known as The Spirit of Saigon, formerly invested by a subsidiary of Bitexco Group, now also owned by Masterise Homes and renamed One Central.
In addition, The Sun Tower Ba Son project - a 55-storey building in Ba Son port area or Lumière Riverside - a prime plot of land in District 2 is also in the "collection" of this developer's land fund.
In Hanoi, the land with 2 fronts at 22-24 Hang Bai and 25-27 Hai Ba Trung (Hoan Kiem district), less than 100m from Hoan Kiem Lake, formerly known as D'.San Raffles by Tan Group Hoang Minh as an investor has also recently returned to Masterise Homes. The land lot of more than 4,071 m2 is expected to develop this project into a 9-storey building with 5 basements, including a complex of commercial centers, high-class offices, and luxury apartments.
Not only owning a series of land plots in a prime location, Masterise Homes also attracted attention when announcing a record selling price of up to several hundred million dong per m2.
According to data from Vhome, a luxury apartment project in Hang Bai, the asking price is expected to range from $25,000-30,000 per m2, equivalent to VND84-174 billion per apartment. Meanwhile, at the Grand Marina project, earlier this year, Masterise Homes announced a selling price of up to USD 18,000 per m2, (equivalent to more than VND 420 million), nearly double the previous price of the former owner. out 2 years ago.
As for the One Central city project, VNDirect Securities Company said that it will contribute to the shopping cart of projects opening for sale this year with the most expensive opening price forecast in Ho Chi Minh City, expected to be about 20,000-25,000 USD. per m2, equivalent to 460-570 million VND.
In addition to the luxury real estate segment, Masterise Homes' high-end projects such as Masteri Waterfront (located in Vinhomes Ocean Park), Masteri West Heights (Vinhomes Smart City) are also higher than the regional level. Even when Masterise Homes' projects are announced for sale, they will establish a new price level for real estate in Gia Lam and Nam Tu Liem areas.
Masterise Homes is not a new name in the real estate market. This unit set foot in the market since 2014 with Masteri Thao Dien, then a number of other luxury projects but mainly concentrated in Ho Chi Minh City. The strategy of Masterise Homes has been clearly revealed and exploded in the past 2 years with the goal of pursuing projects in the most prime locations in big cities with the ambition of building branded real estate projects ( branded residences). To realize that ambition, Masterise Homes said it will cooperate with famous global units from design, architecture, landscape to management, operation... projects.
According to Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association (HoREA), branded residences first appeared in New York (USA) nearly 100 years ago. This is a type of real estate cooperation between a famous global real estate management brand and a business developing high-class, super-luxury real estate projects.
In Vietnam, according to Mr. Troy Griffiths, Deputy General Director of Savills Vietnam, the supply of this product is mainly concentrated in major tourist cities and provinces such as Kien Giang, Da Nang, Quang Nam, Quang Ninh, Khanh Hoa. … of which most are luxury villas on the beach. However, from last year until now, branded real estate has become more popular in the apartment segment in big cities.
The Savills report shows that branded products are often priced 35% more than a comparable unbranded product in the vicinity. This spread varies considerably by location, brand and operator. Besides, the scarce quantity of each project is also a factor that helps to increase the value of this product line.
Savills also assessed that Vietnam is one of the world's leading real estate development markets. Over the years, investment in real estate is currently in the 16% to 20% range and has become more attractive after the moves to loosen mortgage rates, raising the prospect of capital pouring into real estate. produce. In addition, the growing middle and upper class is now a driving force in promoting brand real estate.
According to Mr. Chau, the luxury real estate segment is a real need that has arisen among the very rich and super-rich in recent times, due to the strong development of Vietnam's economy and the formation of a "new class". the new rich". Currently, globally, there are about 500 luxury real estate projects in the luxury and super luxury real estate segment, targeting the upper class of customers with strong financial resources, connoisseurs of hobbies such as buying computers. Private flights, yachts, supercars, building castles...
