Explore VietnamReal Estate
Explore VietnamMitsubishi Corporation, Tokyu Land Corporation & Phát Đạt Real Estate
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 credible pre-delivery choice for buyers who want Japanese-branded developer quality in Bình Dương at a 20–30% discount to equivalent inner-HCMC product — the Hydrotherapy Water Resort (Japanese onsen, aquatonic pools, 88m lazy river) is a genuine market differentiator. The tradeoff is a noisy Highway 13 address, limited nearby schools, and a Q1 2028 handover that requires patience.
Homeowner: A solid pre-delivery choice for homeowners who prioritise developer credibility and a differentiated wellness lifestyle. The Mitsubishi–Tokyu Land joint venture brings execution standards that most Bình Dương peers cannot match, the planned amenity stack (Japanese onsen, aquatonic therapy pools, Kodomo water park) is genuinely uncommon at 45M VND/m², and Ring Road 3 has just opened to ease Highway 13 congestion. The honest tradeoff: the Highway 13 frontage is noisy, school options within easy reach are limited to small preschools, and buyers are committing two years ahead of a Q1 2028 handover.
Investor: The investment case is viable but requires patience. Bình Dương commands Vietnam's highest condo rental yields — premium projects achieve 6–8% gross — and the industrial-zone executive tenant pool is substantial. Ring Road 3 (now operational) and a proposed metro along Highway 13 (targeting 2030) add medium-term upside. The risks are real: no listing history, a 6,184-unit project scale means intra-project competition at handover, and the 2028 delivery timeline locks up capital for two-plus years.
| Unit price | 1,58 tỷ – 4,58 tỷ |
| Launch price | 45 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Monrei Saigon | 45 triệu/m² | — |
| Astral City | Lower — ~40–50M VND/m² | Thuận An, Bình Dương — same Highway 13 corridor |
| The Harmonie | Similar — ~50–55M VND/m² | Thủ Dầu Một, Bình Dương — Phú Mỹ Hưng brand, green campus |
| Vinhomes Grand Park | Higher — ~65–90M VND/m² | Thủ Đức, HCMC — metro access, township scale, HCMC address |
Bình Dương's premium condo segment is gaining momentum as HCMC inner-city prices push above 90M VND/m², making Japanese-branded projects at 45M an increasingly credible alternative for buyers who accept a longer commute in exchange for developer quality.
| Developer | Mitsubishi Corporation, Tokyu Land Corporation & Phát Đạt Real Estate |
| Total Units | 6184 |
| Launch Date | 2026-06-02 |
| Handover | 2028-Q1 |
| Construction Permit | Approved |
| Pink Book | Not issued |
| Legal Notes | Construction permit GPXD #4668/GPXD issued 26 December 2023 by Bình Dương Department of Construction. Joint venture: Mitsubishi Corporation (56%), Tokyu Land Corporation (24%), Phát Đạt Real Estate (~20%). Vietnamese citizens receive long-term (permanent) ownership. Foreign buyers are eligible under the Housing Law 2023 for 50-year ownership with a single extension right. Pink books are pending — project is pre-handover with targeted delivery Q1 2028. Sales officially launched June 2, 2026. |
Monrei Saigon
| CBD (peak) | 66 min |
| CBD (off-peak) | 49 min |
| Airport (peak) | 56 min |
| Airport (off-peak) | 49 min |
| Long Thành (peak) | 98 min |
| Long Thành (off-peak) | 83 min |
Draws professionals and managers employed in Bình Dương's industrial corridors — VSIP, LEGO, Samsung, and the network of parks along Highway 13 — who value the Japanese hydrotherapy and wellness concept as a differentiator from standard Bình Dương mid-market product. HCMC buyers priced out of equivalent Japanese-branded projects in the inner city are a secondary audience. The Mitsubishi and Tokyu Land pedigree, CBRE management, and LEED certification attract credibility-sensitive buyers willing to accept a Bình Dương address in exchange for developer quality at a 20–30% discount to comparable inner-city product.
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