The analysis of the group's representative with more than 20 years of experience in the global luxury real estate segment helps the Vietnamese market better understand the new product line...
Branded apartment The Residences at The West Hollywood EDITION
With the Vietnamese market, branded residences may still be a relatively new and confusing concept with similar product models. But with Marriott International - which owns the world's largest branded real estate portfolio with more than 100 completed projects and about 60 projects in the future, this model is no longer strange but has been standardized. from the perspective of service and utility standards of the brand itself as well as from the perspective of design and construction standards for the project developer.
Mr. Gautam Bhandari, Regional Vice President - APEC Regional Development, Marriott International shared about the difference of luxury real estate in general and Marriott branded apartments in particular compared to other product lines and projects.
Can you tell me what are the characteristics to distinguish between luxury apartments and serviced apartments or luxury apartments?
One thing in common between luxury apartments and serviced apartments is that both types of real estate are branded and operated by a reputable hotel manager. However, serviced apartments are only rental accommodation, while branded apartments are sold to customers.
As for luxury apartments and luxury apartments, there is an unmistakable difference. Branded apartments are branded and operated by a reputable hotel manager, while luxury apartments are not branded and managed according to the standards of any luxury hotel. Luxury apartments may be built by reputable real estate developers but are still considered unbranded apartments because of the lack of involvement of a reputable hotel brand.
What privileges do residents living in luxury apartments have that luxury apartments cannot offer?
They will be able to own apartments and live a high-class life in a "hotel" of 5 stars or more with high-class services 365 days a year. In addition to living in the most prime location in the city, residents of branded residences have the opportunity to join the elite, like-minded and like-minded elites.
Mr. Gautam Bhandari, Regional Vice President – APEC Regional Development, Marriott International
For residents of Marriott-branded residences, they will be served as VIPs not only at their residences but at 7,600 Marriott properties globally. This is our way of thanking the owners for their trust in our brand.
The Marriott branded apartment has officially been present in Vietnam with the largest project in the world. Can you share about the partnership with Masterise Homes when developing this project?
Masterise Homes is a relatively young developer in the Vietnamese market, but has a remarkable track record. This company has developed a wide range of real estate projects across Vietnam. One of the things that makes us want to cooperate with Masterise Homes is that this company has a land bank with extremely favorable locations in major cities.
This is an essential condition for the development of branded real estate projects. Masterise Homes also has a strong international vision with an ambitious growth plan. These factors make us want to cooperate to develop the luxury real estate segment in the Vietnamese market.
With the Grand Marina branded apartment project, what role does Marriott International play?
We make the project known to more people through the Marriott and JW Marriott brands. In addition, we also provide sales and marketing materials for the project. More importantly, we provide consulting services on design and construction to ensure the quality of our products and services is equivalent to the global standards of our brand, because our products and services are of high quality. high will create long-term cumulative value for the owner of the apartment.
After the project is completed, Marriott International will take over and act on behalf of the management to operate the Grand Marina apartment complex, Saigon with the ultimate aim of creating a community of residents of the same level and like-mindedness. , with standard services of all Marriott hotels globally.
Could you please share your opinion on the development trend of luxury real estate in the near future?
Marriott is currently the market leader in this real estate segment. With over 20 years of experience in this area, Marriott currently operates 102 branded apartment projects globally, and we are the world's largest operator of branded residences.
Unlike before, when branded apartment projects were combined with a building with a hotel, but the upcoming trend, branded real estate projects will be developed independently, forming an independent residential area. not shared with the hotel. The Grand Marina project we develop in District 1, HCMC will be built in an independent direction like this.
Thank you Sir!
See more Masterise Group's branded real estate in District 1, Bason via:
Website: https://masterisesaigon.com/
Hotline/Zalo: 0911 525 454
