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4 of 9 delivered
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Masterise Homes
4 of 9 sub-zones delivered · 5 upcoming 2026–2028
117.4ha world-class township by Foster + Partners with Metro Line 1 access, 92ha golf course, and Southeast Asia's largest water music fountain — HCMC's most ambitious new downtown
117.4-hectare world-class urban township in An Phú, Thu Duc, designed by Foster + Partners (UK) — the firm's first township masterplan in Vietnam. Developed by Masterise Homes across five distinct neighborhoods: SOHO commercial townhouses, Canal Walk high-rise apartments, Waterfront Park riverside townhouses, Diners Square entertainment precinct, and Villa Oasis luxury villas. Features 22 towers, 11,800 units, a 92-hectare international golf course, and the 2km Canal of Love with Southeast Asia's largest water music fountain. 28% construction density with 26 hectares of greenery and water features.
Balanced for both homeowners and investors.
A large, low-density Masterise township with working green space and international schools nearby, priced at a clear premium of about 140M/m². The tradeoff is timing: Lotte Mall, King's College Wimbledon and several sub-zones are still being built, and pink books are only partly issued.
Homeowner: A solid choice for homeowners who can live alongside construction for a few more years. Low density, a 13-ha City Park, the Canal of Love and the TAS and ICS schools work today, while Lotte Mall and King's College Wimbledon are still to open and the nearest hospital is Vinmec Central Park, 5.8 km away. You pay a clear price premium for the Masterise masterplan.
Investor: The investment case rests on future anchors rather than today's yield. A working resale market (about 145M/m², stable) and a tenant pool near Metro Line 1 and the international schools help, but rents imply low single-digit gross yields at this price, about 11,800 units will compete for the same buyers, and Cosmo Central's 64% take-up was the softest tracked HCMC launch in Q1 2026 (CBRE).
| Market range | 109 triệu – 175 triệu/m² |
| Unit price | 6,1 tỷ – 250 tỷ |
| Rent | 10,5 triệu – 180 triệu/mo |
| Launch price | 385 triệu/m² |
| Project | Price | Distance |
|---|---|---|
| Global City | 138 triệu/m² | — |
| Empire City Thu Thiem | About 29% cheaper on primary asks (~140M vs ~198M/m²) | Thu Thiem peninsula address at a higher price tier; Global City offers far more land, green space and a lower-density masterplan |
| Metropole Thu Thiem | About 49% cheaper on primary asks (~140M vs ~275M/m²) | Thu Thiem address at a much higher price tier; Global City is the larger, lower-priced option in the same eastern corridor |
| Sunwah Pearl | About 26% cheaper on primary asks (~140M vs ~188M/m²) and about 6% cheaper on secondary (~145M vs ~155M/m²) | Delivered, established Binh Thanh riverside tower with a mature neighbourhood; Global City is still being built out |
| Q2 Thao Dien | About 19% cheaper on secondary asks (~145M vs ~178M/m²) | Delivered Thao Dien riverside address with established expat demand; Global City trades on scale, parks and future anchors instead |
Primary asks cluster around 140M/m² (100-160M) with secondary stable near 145M/m², while sub-zone moves are mixed and based on thin samples.
| Developer | Masterise Homes |
| Status | 4 of 9 delivered |
| Completion | 2028 |
| Total Units | 11800 |
| Towers | 22 |
| Launch Date | 2021-03 |
| Handover | 2028 |
| Construction Permit | Approved |
| Pink Book | Partial |
| Pink Book % | 10% |
| Legal Notes | PM Decision 57/QD-TTg (Jan 2001) approved golf + residential complex. PM Document 867/TTg-KTN (Jun 2015) approved conversion to urban project. HCMC approved 1/500 detailed planning Nov 2015. PM Document 224/TTg-CN (Feb 2017) approved adjustment to urban district (1,174,221.9m²). Construction permit No. 155/GPXD issued by HCMC Dept. of Construction (Dec 18, 2020). SDI Corp ownership transferred to Masterise Homes Aug 2021. Ground-breaking March 18, 2021. SOHO phase pink books issued from Nov 2024; over 400 SOHO townhouses with pink books by April 2026. Diners Square handover commenced March 2026; Waterfront Park handover underway in Q2/2026. October 2026 search found no new legal disputes, no ownership change, and no additional pink-book batches beyond the SOHO cluster. |
Global City
| CBD (peak) | 25 min |
| CBD (off-peak) | 19 min |
| Airport (peak) | 47 min |
| Airport (off-peak) | 41 min |
| Long Thành (peak) | 48 min |
| Long Thành (off-peak) | 45 min |
Affluent Vietnamese families, expats drawn by the international schools, higher-end investors, and tech-sector professionals.
