Grand Marina - Debuting in the market with a record rental price of up to 200 million VND per month, Marriott's luxury apartments continue to be targeted by the upper class due to their premium services and "luxury" amenities akin to those found in 5-star hotels.
In recent days, the Saigon Riverbank along the vital intersection of Ton Duc Thang (District 1, Ho Chi Minh City) has become even more illuminated with the official management handover of Lake Tower, part of the Grand Marina, Saigon project by Masterise Homes, to Marriott. Not only is it the largest Marriott luxury real estate development in the world, but the project has also surprised many with rental prices reaching up to 200 million VND (8,500 USD) per month.
DECRYPTING RECORD RENTAL PRICES: QUALITY, AMENITIES, AND MARRIOTT'S LUXURY SERVICES
Owning an apartment in projects bearing hotel brands has long been a way for the wealthy and super-rich around the world to express their personal taste. Therefore, the rental prices of these luxury apartments are always at a new high, as the most 'expensive' element is the 5-star service and other intangible values that residents enjoy every day.
Internal amenities such as swimming pools and spas are operated and managed by a professional Marriott concierge team.
With luxury residences bearing the Marriott signature worldwide, residents will enjoy privileges according to the international standards of this hotel group. At Grand Marina, Saigon, residents will experience privileges ranging from small tasks like receiving deliveries, mail, newspapers, and magazines at their doorstep, daily waste disposal, to premium services such as flight and golf reservations, yoga and fitness trainers, and childcare arrangements with babysitting services.
However, the standout aspect that defines the difference in 'luxury service' is the distinguished lobby concierge service and the team of butlers trained to 5-star hotel standards by Marriott. Unlike the reception teams in regular apartment buildings that merely record information and provide services upon residents' requests, Marriott's butler team undergoes over 250 hours of specialized training each year to equip themselves with the necessary skills and knowledge for proactive and personalized services. All of this is handled by the professional Marriott concierge team, ensuring the highest quality.
As a result, every resident at Grand Marina, Saigon, gets to experience the quality of in-home services, likened to a '5-star hotel,' as all management and operations are diligently carried out by Marriott's dedicated team of professional butlers.
The professionally trained concierge team to 5-star hotel standards is ready to serve the first residents of Lake Tower.
WHO WILL BE THE RENTERS?
As Ho Chi Minh City continues to grow and attract a series of intellectual residents and high-level foreign experts, the demand for an enhanced quality of living is highly emphasized. According to statistics within a 3km radius of the Grand Marina Saigon apartment complex, there are currently more than 35 Grade A and B office buildings, equivalent to about 1,400 companies and 4,200 international experts, high-ranking leaders of multinational corporations.
It is evident that the supply of luxury apartments is very low compared to the abundant demand from the affluent living and working in the central area of Ho Chi Minh City. Therefore, the introduction of the first Marriott luxury apartments in Vietnam not only brings a breath of fresh air to the luxury segment but also demonstrates that high-end rental apartments, despite their high prices, still have strong appeal if they meet residents' expectations for a sophisticated and well-equipped living environment.
For example, the average rental price for a 90m2 Executive Suite in central 5-star hotels ranges from 10-12 million VND per night, and in some places, it goes up to 23 million VND (1,000 USD) per night. In contrast, the rental price for a high-end serviced apartment at Intercontinental Saigon ranges from 6,100 to 7,700 USD per month. Looking at cities with similar living standards such as Bangkok (Thailand), the rental prices for high-end apartments range from 250,000 to 350,000 baht (170-240 million VND) per month. With a cost of 200 million VND, equivalent to 8,500 USD per month at Grand Marina, Saigon, this rent is considered competitive with other projects in Vietnam and the region, given its central location in District 1, convenient access to neighboring districts, and satellite urban areas.
Above all, luxury apartment segments like Grand Marina, Saigon, target:
The target customer base includes the upper class, celebrities, company owners, entrepreneurs, CEOs of international corporations, etc., individuals with high living standards and a desire for distinctive enjoyment. Elite residents are willing to accept substantial expenses to experience exclusive amenities and intangible values that luxury apartments provide. It is not just about comfort and conveniences in life but also a guarantee of success, social status, and a unique luxurious lifestyle amidst the vibrant pulse of Ho Chi Minh City.
Explore more about the luxury apartments at Grand Marina: https://masterisesaigon.com/