Masterise Homes, an enterprise known for its series of high-end real estate projects, recently joined the urban race with a new project in Ho Chi Minh City.
The Global City – the first urban area project developed by Masterise Homes has a total area of nearly 117.4 hectares. The project also marks the appearance of Foster + Partners - a "giant" in the world architectural design industry, with the role of planning, consulting and providing advanced and sustainable design solutions.
Perspective The Global City townhouse
Expectation to become Saigon's "new center"
If urban areas were formed in the real estate market decades ago, new megacities appeared about 5 years ago. Large investors in turn announced megacities with a scale of hundreds to thousands of hectares, which are synchronously planned from commercial and residential areas, to infrastructure, utilities and landscapes. The megacities bring a new dimension and vitality to the Vietnamese real estate market.
In the central districts of Ho Chi Minh City, due to limited land fund, there are not many projects with a scale of more than one hundred hectares like Saigon Binh An. The urban area has been approved for investment policy since 1999, but has been "sleeping" for nearly 20 years. By August 2021, the project was handed to Masterise Homes and by early 2022, the developer announced a new name, The Global City, with the orientation to become a "downtown city", the new center of Ho Chi Minh City.
Masterise Homes has gained attention in the past two years because of its distinct strategy compared to other developers in the real estate market. Not only announced the development of real estate projects that have never appeared in the Vietnamese market before, the developer also announced a cooperation with Marriott International - the world's leading hotel and resort management group. gender. Two branded real estate projects, Grand Marina, Saigon (Ho Chi Minh City) and Ritz-Carlton (Hanoi), respectively, were introduced to the market. This unit even "exports" luxury apartments to some international markets.
Update the progress of The Global City project
Located in An Phu ward, Thu Duc city, The Global City has two fronts bordering the two most important roads in East Saigon. In particular, a project frontage adjacent to the Ho Chi Minh City - Long Thanh - Dau Giay highway, the arterial road connecting Ho Chi Minh City with the provinces of the Southwest, Southeast and Central Highlands such as Bien Hoa, Binh Duong, Di An, Long Thanh, Nhon Trach…
The east facade of the project is adjacent to Do Xuan Hop street - the main road connecting through Thu Duc new city. The project has one frontage bordering the Rach Chiec river and the other side bordering the sports urban area of Saigon Sports City (64 ha).
The location of The Global City, which is oriented to be the new center of Ho Chi Minh City.
From The Global City urban area, residents also conveniently move to Thu Thiem urban area, Binh Thanh district and central districts 1, 3, 4... via Mai Chi Tho Boulevard, Hanoi Highway , Thu Thiem Tunnel…
Thanks to its strategic location, the project will benefit from the investment capital in infrastructure of Ho Chi Minh City to 852,500 billion VND, including upgrading the Ho Chi Minh City - Long Thanh - Giau Giay expressway to 8 lanes. Do Xuan Hop Street with a width of up to 60m. In addition, the Metro urban railway line No. 1 Ben Thanh - Suoi Tien is about to be completed, which is also a driving force to promote the regional economic development.
With the advantage of a large land fund, a relatively complete transport infrastructure system, The Global City is expected to be a modern, well-planned urban area of Ho Chi Minh City, becoming a core urban area with strong attraction. in the East.
International cooperation elevates the model urban area
Masterise Homes selected an international partner for The Global City project as a "giant" in the architectural world Foster + Partners. This is an architectural design and urban construction studio based in London, England and 55 years of operation.
Foster + Partners has participated in the construction of famous projects such as Hearst Tower (New York), The Gherkin (London) or Apple Park headquarters (California). In which, Hearst Tower was in the top 10 most beautiful high-rise buildings in the world in 2008. And The Gherkin is located in London's financial district, symbolizing the beginning of a new wave of construction in this city.
As the first urban area Foster + Partners participates in in Vietnam, The Global City is designed and developed according to new urbanism. Accordingly, this will be a diversified and modern urban complex, with full facilities of a future city center in addition to the housing area. Foster + Partners will undertake architectural consulting for The Global City, offering innovative and sustainable design solutions to create a global “city”.
Mr. Youssef Akila, Design Director of Masterise Homes and Foster+Partners architects discussed at Foster+Partners headquarters in London.
According to a market report of Savills Vietnam, Ho Chi Minh City is currently facing a shortage of villas and townhouses due to the pandemic. Primary supply in 2021 decreased by 65%, to about 1,200 units, the lowest since 2016. Commercial townhouses have more than 200 units, down 85% year-on-year.
In that context, the launch of the Soho townhouse subdivision of the Urban Area The Global City in March was welcomed positively by the market. The subdivision is located in the vibrant heart of the megacity, inspired by the busiest and busiest shopping areas of global cities such as London and New York.
Soho townhouse design harmonizes modern architecture and Vietnamese urban sound.
Positioned in a high-class position with design and construction according to international standards, Soho townhouse products are expected to have the highest market price in Thu Duc city. However, with the limited supply of townhouses in Ho Chi Minh City, the Soho subdivision is expected to attract the attention of investors, initially creating a buzz for Masterise Homes on the race to develop megacities.
The Real Estate market welcomes a new supply source with projects by Masterise Homes starting from mid-2023
Expanding the An Phu - Belt Road 2 Expressway section, adjacent to The Global City in Ho Chi Minh City