Explore VietnamReal Estate
Explore Vietnam
Masterise Homes
Under construction · Developer selling · Pink books 10%
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.
Better for long-term living than for investing.
HCMC's most ambitious township hits key milestones: Grand View topped out, Cosmo Central sold out, Sun Group broke ground on adjacent 145,000B VND sports complex. 65-70% built with SOHO delivered and pink books issuing. Premium pricing (100-180M/m²) but strongest sales momentum in HCMC. Infrastructure trifecta (Ring Road 3, Long Thành Airport, An Phú Interchange) all completing 2026.
| Project | Price | Distance |
|---|---|---|
| Empire City Thu Thiem | 150-350M VND/m² | 14.5ha in Thu Thiem, delivered, closer to D1 but much smaller scale and higher pricing. Established resale market provides pricing benchmark. |
| Vinhomes Grand Park | 60-80M VND/m² | Same district, fully delivered, 2-3x more affordable but further east with less premium positioning and amenities |
| Saigon Sports City (Keppel) | 80-100M VND/m² | Adjacent project, now both benefiting from Sun Group's 145,000B Rạch Chiếc Sports Complex. Smaller scale, less developed infrastructure. |
End-user: Good project with solid fundamentals. Foster + Partners masterplan and world-class amenities are genuinely strong, but very high pricing for Thu Duc (100-180M/m², 2-3x nearby Vinhomes Grand Park), ongoing construction until 2028, and commute drawbacks prevent a higher score. A strong project for affluent families who can wait, but meaningful tradeoffs exist.
Investor: Good project with strong long-term catalysts (Metro, Ring Road 3, Long Thành Airport) but premium entry pricing and untested apartment rental/resale markets create uncertainty. SOHO phase shows 20-50% appreciation but apartment price discovery only begins Dec 2026. Strong demand signals (Cosmo Central sold out) partially offset by high entry cost and construction timeline risk.
| Developer | Masterise Homes |
| Construction | Construction |
| 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 from golf 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. Vietnamese citizens have long-term ownership; foreigners get 50-year lease. Bank guarantee by Techcombank. |
Global City
| CBD (peak) | 30-45 min to D1 via Mai Chí Thọ and An Phú Interchange |
| CBD (off-peak) | 15-20 min to District 1 center |
| CBD (motorbike) | 20-25 min to Bến Thành area |
| Airport (peak) | 35-50 min to Tân Sơn Nhất via Hà Nội Highway |
| Airport (off-peak) | 20-25 min to Tân Sơn Nhất; 30 min to Long Thành Airport |
Affluent Vietnamese families, expats near international schools, high-end investors, young professionals in tech sector
