- Marriott International has announced a milestone agreement with Vietnam-based real estate firm, Masterise Homes
- The agreement states that this is the “largest hotel-branded residential project announced to date worldwide”
- The project is set to incorporate branded units from two Marriott International brands- JW Marriott and Marriott Hotels
THoD Newsdesk, Vietnam: Marriott International has proclaimed a milestone agreement with Vietnam-based real estate firm, Masterise Homes, to establish a dual-branded residential and ‘officetel’ project in Ho Chi Minh City. As per the Savills International Development Consultancy, the agreement states that this is the “largest hotel-branded residential project announced to date worldwide”, with close to 4,200 residential and ‘officetel’ units.
The project is set to incorporate branded units from two Marriott International brands- JW Marriott and Marriott Hotels. Slated to open late in 2024, the project will play a major role in an integrated mixed-use complex, which would include residential, office and commercial units. The development will be bestowed with Marriott Hotel’s branded “sophisticated spaces meant to inspire residents” and JW Marriott-branded units, “designed for mindfulness and fostering togetherness with loved ones”.
Paul Foskey, the Chief Development Officer of Asia Pacific for Marriott International, stated that the agreement with Vietnam-based real estate firm Masterise Homes “underscores the strong appeal of the branded residences segment, especially within the Asia Pacific region”, while the Deputy Managing Director and Chief Financial Officer for Masterise Homes, Jason Turnbull, commented, “Masterise Homes has developed renowned properties in Vietnam for over six years and solidified its position as an industry leader with its focus on building a real estate ecosystem with premier international standards.” He further added that Marriott International’s commitment to operational excellence will help bring world-class standards to residents of this dynamic new project.