Explore VietnamReal Estate
Explore VietnamMitsubishi Corporation, Tokyu Land Corporation & Phát Đạt Real Estate
Under construction · Handover 2028
Vietnam's first urban hydrotherapy city — a Mitsubishi-Tokyu joint venture delivering six towers around a 6,500 m² water resort with Japanese onsen, lazy river, aquatonic therapy pools, and CBRE-managed operations.
Monrei Saigon is a 4.46-hectare premium residential development in Thuận Giao Ward, Thuận An, Bình Dương, developed by a joint venture of Mitsubishi Corporation (56%), Tokyu Land Corporation (24%), and Phát Đạt Real Estate. Six towers across two phases introduce Vietnam's first urban hydrotherapy concept, anchored by a 6,500 m² water resort featuring Japanese onsen, an 88-metre lazy river, aquatonic therapy pools, and a sky bridge with a tropical waterfall.
Balanced for both homeowners and investors.
Monrei Saigon is a wellness-led, Mitsubishi–Tokyu Land-backed scheme priced close to local peers (about 45–52M/m² primary), best for buyers who accept a Bình Dương address, very high density and a Q1 2028 handover target in exchange for on-site hydrotherapy amenities. Rental and resale depth are unproven until after handover.
Homeowner: A promising but unproven choice for homeowners: the Mitsubishi–Tokyu Land joint venture plans a 6,500 m² hydrotherapy water resort with a Japanese onsen and a children's water park on-site, managed by CBRE. The trade-offs are very high density, high ambient noise, congested Highway 13, weak transit and medical access, and pink books that only follow a handover currently targeted for early 2028.
Investor: The investment case rests on pricing and sponsor strength rather than proven income. Primary prices of about 45–52M/m² sit close to local peers and the developer pedigree is strong, but there is no rental or resale track record yet, and 6,184 units will compete for tenants and resale buyers once towers hand over.
| Market range | 38 triệu – 52 triệu/m² |
| Unit price | 1,58 tỷ – 4,58 tỷ |
| Launch price | 45 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Monrei Saigon | 45 triệu/m² | — |
| Astral City | Similarly priced to slightly cheaper (about 40–50M/m²) | Same Thuận An and Highway 13 corridor, without Monrei's hydrotherapy amenity stack or Japanese joint-venture backing |
| The Harmonie | About 10% more expensive (about 50–55M/m²) | Thủ Dầu Một, Bình Dương, with the Phú Mỹ Hưng brand and a green campus |
| Vinhomes Grand Park | Roughly 40–90% more expensive (about 65–90M/m²) | Thủ Đức, HCMC, with metro access, township scale and an HCMC address |
Primary asks of about 45–52M/m² (typical 45–48M) are the only firm price evidence, early resale asks sit somewhat below, and genuine price discovery will start after handover.
| Developer | Mitsubishi Corporation, Tokyu Land Corporation & Phát Đạt Real Estate |
| Status | Under construction · Handover 2028 |
| Total Units | 6184 |
| Launch Date | 2026-06-02 |
| Handover | 2028-Q1 |
| Construction Permit | Approved |
| Pink Book | pending |
| Legal Notes | Construction permit GPXD #4668 issued 26 Dec 2023. JV: Mitsubishi (56%), Tokyu Land (24%), Phát Đạt (~20%). Pre-handover (target Q1 2028), so pink books are pending. Searches this run found no change in legal status. |
Monrei Saigon
| CBD (peak) | 67 min |
| CBD (off-peak) | 53 min |
| Airport (peak) | 57 min |
| Airport (off-peak) | 52 min |
| Long Thành (peak) | 96 min |
| Long Thành (off-peak) | 87 min |
Draws professionals employed in Bình Dương's industrial corridors and HCMC buyers priced out of comparable upper-mid projects, alongside health-conscious buyers who value the Japanese-backed hydrotherapy and wellness amenities. The Mitsubishi and Tokyu Land pedigree appeals to buyers who prioritise developer credibility and CBRE-managed operations, and they should accept a high-density, noisy setting with limited transit.
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