Masterise Homes, a member of Vietnam real estate developer Masterise Group, has launched One Central Saigon, a mixed-use development in Ho Chi Minh City. The project, billed as Vietnam’s first integrated landmark destination, will feature The Ritz-Carlton, Saigon, marking the hotel brand's debut in the country. It will also include The Ritz-Carlton Residences, Saigon, along with offices and retail spaces.

Occupying an 8,537 sq m (91,892 sq ft) site directly opposite Ho Chi Minh City’s famous Ben Thanh Market, One Central Saigon comprises two towers atop a retail and commercial podium. The development was designed by a team that included Miami-based Arquitectonica as the project's design architect, and B+H, a member of Surbana Jurong Group, as the executive architect.

The Ritz-Carlton, Saigon will be a 231-key hotel operated by Marriott International, which owns the Ritz-Carlton brand. It will also manage the development’s Ritz-Carlton-branded residences, which will open "a new chapter in ultra-luxury living", according to Masterise Group.

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The project’s podium will offer 19,990 sq m (215,171 sq ft) of commercial space across seven above-ground levels and six basement floors. The basement floors will connect directly to Ben Thanh Metro Station via an underground link.

One Central Saigon’s official launch comes after years of stalled development. Construction of the project, previously known as Spirit of Saigon and One Central HCM, had begun in 2012, but ran into several delays, with ownership of the project changing multiple times.

Now, the project is being reintroduced “with a clearer vision”, says Nguyen Thi Minh Phuong, managing director, southern region at Masterise Group. She adds that the group aspires to continue building an iconic landmark "where the world’s highest experiential standards converge with the identity, energy and ambition of the city".

This comes as Vietnam continues to attract global capital and tourism inflows. In 2025, Vietnam's disbursed foreign direct investment reached a record US$27.62 billion ($35.3 billion), while the country received nearly 21.2 million international visitors. In Ho Chi Minh City, around 8.6 million international visitors were recorded, up 40.3% y-o-y.

Masterise Group also highlights the rising presence of branded residences in Vietnam, amid a rapidly growing market within the wider Asia Pacific (Apac) region. Research published by Savills in February found that branded residences in Apac have increased by 55% over the past five years. In addition, hospitality consultancy C9 Hotelworks noted in a June 2025 report that Vietnam has the largest pipeline of branded residences in Asia.

One Central Saigon will be Masterise Group's latest development to feature branded residences. Its portfolio of projects includes Ho Chi Minh City's Grand Marina, Saigon, which includes Marriott and JW Marriott-branded residences, and Hanoi's The Grand, which includes The Ritz-Carlton Residences, Hanoi.

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