One Central Saigon Reflects a New Phase for Ho Chi Minh City

The area surrounding Ben Thanh Market has long stood as one of Saigon's most recognisable urban symbols - a crossroads of commerce, culture, and daily city life. Now, that historic district is entering a new chapter as One Central Saigon emerges as a new symbol of the city's global ambitions.

Vietnam's Emergence in the Global Branded Residences Landscape

Vietnam's real estate market is entering a new phase of global relevance. Over the past five years, the country's branded residences segment has grown by 55%, underscoring rising demand among both domestic and global high-net-worth buyers. Vietnam is now ranked among the world's top four emerging markets for branded residences, reflecting its growing prominence within Asia's property landscape.

The numbers tell a compelling story. Vietnam's GDP surged 8.02% in 2025, while FDI reached a record USD 27.62 billion.

'Ho Chi Minh City welcomed over 8.5 million international arrivals last year in 2025, representing over 40% year-on-year growth. That is a level that is above the global average and also the regional average, making Ho Chi Minh City the most visited destination in Vietnam', said Gloria Chan, Vice President, Development, APEC, Marriott International. 'This confirms Ho Chi Minh City's position as one of the fastest growing travel markets in Asia.'

But beyond the statistics lies a more significant narrative: Vietnam has reached an inflection point where global hospitality brands view the country not as an emerging market experiment, but as a cornerstone of their Asia-Pacific expansion strategies.

Against this backdrop, global hospitality operators are deepening their presence in Vietnam through branded residential partnerships and integrated luxury developments. Marriott International, the world's leading hotel group with more than 9,800 properties globally, has continued expanding its partnership with Masterise Homes in Vietnam. The collaboration now spans a growing portfolio of landmark developments, including Grand Marina, Saigon, The Ritz-Carlton Residences, Hanoi at The Grand, and now One Central Saigon.

A World-Class Destination Rooted in Vietnam

'We believe Vietnam has reached the moment where it is ready for a development of the calibre of One Central Saigon', said Ms Nguyen Thi Minh Phuong, Managing Director, Southern Region, Masterise Group.

Rising from one of the last remaining trophy sites in Ho Chi Minh City's historic core, One Central Saigon is being developed as a next-generation urban destination that blends luxury hospitality, branded living, commerce, and business within a single integrated ecosystem. Set on an 8,537-square-meter site directly opposite Ben Thanh Market, twin towers rise above a retail and commercial podium spanning 19,990 square meters across seven above-ground levels and six basement floors. The retail center is envisioned as a destination for luxury retail, curated services and fine dining, with brands and experiences selected for both international appeal and the evolving needs of Vietnamese customers.

Anchored by The Ritz-Carlton and The Ritz-Carlton Residences, the development also integrates Grade A+ office space and direct underground access to Ben Thanh Metro Station.

'The infrastructure coming to Ho Chi Minh City will fundamentally change the city's dynamics and logistics, opening the door to mixed-use projects and branded residences. We're at a turning point with a strong foundation for growth.' said Mauro Gasparotti, Senior Director, Head of SEA Savills Hotels. 'Projects like this are exactly what the city and country need.'

The project also reflects a growing trend among Asian gateway cities, where landmark mixed-use developments increasingly serve not only as commercial assets, but as symbols of national ambition and global identity.

Vietnamese Identity Through a Global Lens

While One Central Saigon is designed to meet international standards, its developers say the project is equally rooted in Vietnamese cultural identity.

The architecture draws inspiration from the 'Song Long Ngam Ngoc' concept–two dragons converging around a precious pearl, a symbolic motif associated with prosperity, wisdom, and strength in Eastern culture. The twin towers reinterpret this imagery through a contemporary architectural language intended to reflect Vietnam's growing confidence on the global stage.

Among the tallest twin towers in Vietnam and the region, the development is also a highly complex engineering undertaking requiring significant investment, precision and coordination at every stage of execution. The project brings together an international roster of partners, including Arquitectonica as design architect, HBA for interior design, B+H as executive architect, and Turner Construction for project management.

International operational standards add another defining layer of value to the development. With more than a century of luxury hospitality heritage, The Ritz-Carlton brings a reputation for refinement, privacy, attention to detail and highly personalised service to One Central Saigon's ultra-luxury positioning.

Positioned at one of Ho Chi Minh City's most iconic addresses, One Central Saigon is poised to redefine the city's luxury landscape while elevating Vietnam's profile on the global stage.

About the author: Katrina Thompson is a Hong Kong-based freelance writer with a strong background in luxury business. She covers news on business, real estate, and luxury business across Asia.