"The Grand" luxury condominium located at the intersection of Hang Bai and Hai Ba Trung in Hoan Kiem District, Hanoi, Vietnam, has sparked curiosity due to its exceptional value, surpassing all others in the country.
The Ritz-Carlton Residences, Hanoi, a luxury condominium development by Masterise Homes, is situated within The Grand complex in the heart of Hoan Kiem District, on Hang Bai Street. This is a rare supply of residential apartments in the historic Old Quarter that has emerged over the past decade.
What's inside Vietnam's most expensive apartment priced at 100 billion VND, with each square meter equivalent to a standalone house?
The Grand officially topped out in March 2023 and is regarded as the most prestigious condominium development in Vietnam. This is because it is the first luxury residential project in Vietnam operated and managed by The Ritz-Carlton, a renowned high-end brand under the globally esteemed Marriott International conglomerate.
Located at the intersection of Hang Bai and Ba Trieu, The Grand Hanoi comprises two towers: The Crown and The Heritage.
The project consists of 8 above-ground floors and 6 basement levels. Within the 6 basement levels, the first 3 floors are dedicated to amenities, while floors 4 to 6 are allocated for parking. Notably, the project integrates a system of over 50 top-notch 6-star facilities, including a range of authentic fashion shops, upscale restaurants, a large-scale shopping center, a reading area, a gym area, and a children's playground, among others.
With a limited quantity of only 104 apartments ranging from 2 to 3 bedrooms, with sizes ranging from 98m2 to 137m2 to 215m2, each unit at The Ritz-Carlton is priced approximately from 70 to over 100 billion VND. Another noteworthy detail is that all apartments at The Ritz-Carlton are fully furnished to the highest standards, adhering to the 6-star hotel criteria set by Marriott International.
Experience luxurious living in the exquisitely furnished living rooms featuring premium imported furniture from renowned high-end brands, meticulously curated and quality-checked by The Ritz-Carlton
The modern and sophisticated library room serves as a private workspace for the affluent homeowners, including billionaires and executives of major corporations both domestically and internationally.
The kitchen is equipped with high-end and luxurious appliances designed in European style. The kitchen interior features the top-rated and most expensive brands available in the current market.
The bedroom is designed with wardrobes made from genuine leather. Adjacent to it is a dedicated dressing room for fashion enthusiasts, complete with a collection of high-end designer clothing
The spacious and luxurious bathroom serves as a tranquil retreat for the affluent owners of the million-dollar apartment.
Regarding the customer profile for these million-dollar apartments, Mr. Vo Huynh Tuan Kiet, Director of Residential Development Department at CBRE, stated: "For high-end and luxury housing products, the buyers are individuals with high income, social status, who purchase the properties for residential purposes. Additionally, a significant portion of buyers consists of investors who purchase the units for rental investment."
Currently, the absorption rate of luxury apartments remains favorable in both the Northern and Southern regions of Vietnam, with no significant signs of decline or a drastic decrease in transaction volume. One of the main reasons is the limited supply of new properties in the market, which contributes to the sustained absorption rate. Properties with good commercial value continue to attract transactions."
Furthermore, in the southern region, the Masterise Group is also launching the upscale Grand Marina, Saigon apartment complex, located on the prime frontage of Ton Duc Thang - Nguyen Huu Canh streets.
| Name of project: | Grand Marina branded apartments |
| Location: | No. 2 Ton Duc Thang, Ben Nghe Ward, District 1, City. Ho Chi Minh. |
| Investment unit: | Masterise Homes – Member of Masterise Group |
| International Partners: | Marriott International, AB Concept, Atkins, Aurecon, HBA, Mace |
| Product Positioning: | The first branded residences in Vietnam, offering 365 days of experience at a 5-star Marriott International hotel |
| Construction general: | Delta& Newtecons |
| Management and Operation: | Marriott International |
| Website | https://masterisesaigon.com/ |
| Type of apartment: | Studio, 1PN, 1PN+, 2PN, 3PN, DualKey, Penhouse |
| Project scale: | 10hecta, including 8 towers with more than 4,200 super luxury apartments |
| Project Legal: | Full legal |
| Ownership: | Vietnamese own long-term, foreigners (NNN) own 50 years. |
| Project status: | Open for sale at Sea, Lake, Cove |
| Price: | Lake Court: 14,000 - 16,000 USD/m Cove Court: 17,000 - 18,000 USD/m Sea Court: 18,000 - 20,000 USD/m |
