Grand Marina, Saigon – Marriott International’s flagship property in Vietnam

The time Vietnam reopens to international tourism is also the time when Marriott International Group announced a plan to expand its portfolio in Vietnam, which is expected to add nearly 9,000 hotel rooms and luxury apartments in the next 4 years. with the entry of key brands of the group such as The Ritz-Carlton, Marriott, Westin or Courtyard.

Rajeev Menon, Chairman of Marriott International – Asia Pacific (excluding China) shared about the vision of this plan: “Vietnam is an area with impressive economic growth before during the Covid-19 pandemic, thanks to the promotion of many development policies and the promotion of infrastructure investment. Marriott International’s growth in Vietnam reflects the trust of its strategic partners, and we look forward to continuing to provide opportunities for partners through our comprehensive portfolio of 30 world-class brands. level and wide distribution network”.

Marriott International continues to lead the luxury real estate segment, with nearly 190 projects opened for sale or under construction globally. Asia Pacific (excluding China) is one of the fastest growing luxury real estate regions in the world, thanks to a significant contribution from the Vietnamese market, where Marriott International is expected to complete a number of projects under the group’s brand name in the next 4 years.

In early 2021, the group introduced a key branded real estate project marking the entry point into the Vietnamese market – Grand Marina, Saigon with a scale of nearly 4,200 luxury apartments. This is considered the world’s largest luxury real estate project in the portfolio of Marriott International (according to Graham Associates).

Grand Marina, Saigon is developed by Masterise Homes – a real estate developer, a strategic partner of Marriott International. The project is located in the central core of District 1, Ho Chi Minh City, along the banks of the Saigon River. Right from its launch, Grand Marina, Saigon has made a big splash, attracting the attention of customers. Grand Marina, Saigon is expected to be completed by the end of 2024 and handover from the first quarter of 2023.

Evaluating the future of luxury real estate in general and the potential of new products in the portfolio in particular, Mr. Jakob Helgen, Vice President of Marriott International in Thailand, Vietnam, Cambodia and Myanmar expressed: “Vietnam is one of the most vibrant destinations, having set many records in terms of tourist arrivals over the years, as international tourists increase and domestic tourists tend to explore the sights of their homeland. . With the reopening of tourism, we hope for a speedy recovery in Vietnam and look forward to continuing to expand our portfolio to more locations in this fascinating country.”

Le Thanh