Real Estate

Vietnam's first Ritz-Carlton branded residences to offer a limited apartment number to local market

Bich Phuong Friday | 10/15/2021 17:10

Located on Hang Bai street, right in the heart of the capital's old town, The Grand, Hanoi project possesses a prime view. Photo: Masterise Homes

A restricted amount of 104 apartment units of Hanoi's first branded residences project will be offered for sale in the domestic market. The rest will be sold in the international market.

As a pioneer brand of Marriott International in the branded residences real estate segment, Ritz-Carlton is among the world's leading brands with a large portfolio.

However, Besides the US market, Ritz-Carlton appears in some cities in the world with a restricted number of projects. Some cities have only one Ritz-Carlton branded residences project and the projects always locate at the primmest locations of the cities.

On October 5th, Masterise Homes and Marriott International announced an agreement to launch the first Ritz-Carlton branded apartment project in Vietnam on Hanoi’s Hang Bai Street.

During the announcing ceremony, Mr. Gibran Bukhari, Sales Director of Masterise Homes talked about the project’s values, from the heritage of the brand, the old quarter of Hanoi to the privileges for the potential customers of the Ritz-Carlton restricted apartment version.

Could you tell us about the partnership between Masterise Homes and Ritz-Carlton on this project?

The Ritz-Carlton, Hanoi at The Grand was developed based on strategic and long-term cooperation between Masterise Homes and Marriott International. The project promotes the strength of Masterise Homes as a pioneer in branded real estate products and services in Vietnam and the world's leading hotel group, the operator of the legendary Ritz-Carlton brand.

Developing this project, Marriott International has been working with us from designing stage and construction consulting to ensure the project meets the Ritz-Carlton global standards. At the same time, the stand-alone Ritz-Carlton branded apartment building will also have a full range of management services according to the brand's gold standard.

Mr. Gibran Bukhari, sales director of Masterise Homes, said that Masterise Homes received great interest from customers.
Mr. Gibran Bukhari, sales director of Masterise Homes, said that Masterise Homes received great interest from customers. Photo: Masterise Homes 

On the other hand, Masterise Homes offers a world-class project development team consisting of architects, designers, and project management consultants with experience and excellence to develop the project. The team won several prestigious awards from HBA, GroupGSA, Arterlia. They ensure high-quality design and construction that meet Marriott's rigorous standards and deliver a legendary living experience to customers as committed.

Why did Masterise Homes choose Hanoi to develop the branded residences project?

Branded real estate is a product line that meets the asset accumulation demands of a super-rich community. Having the real estate also affirms their success status and class in the community. We believe that this demand is huge in big cities like Ho Chi Minh City and Hanoi.

There is an existing demand of ultra-wealthy people in Hanoi for a classy living space with luxury service and utility right in the heart of the city. Especially, the Hanoians, who were born in the old quarter, always remember and love to live in the place where they grew up. Wherever they go, they always remember this place, a unique space of Hanoi, where the streets, architecture, and people create the atmosphere.

The vision and idea inspire the design of Ritz-Carlton, Hanoi at The Grand. The project was designed with inspiration from the heritage of the brand and the heritage of the old town of Hanoi, and the legendary service from the gentlemen and ladies of the Ritz-Carlton. The building includes luxurious modern amenities such as an indoor swimming pool, lounge, shopping area, ...

The number of the apartment in the residence is limited to only 104 units, bringing the property owners a different lifestyle that meets the demands and desires of successful people in Hanoi. We spend only 70% of the apartments for sale in Vietnam, which may create a rare opportunity for Vietnamese customers to own a legacy associated with the Ritz-Carlton brand.

How is the feedback from the market about this project?

Since we introduced this project to the market, we have received great interest from customers. The number of people who expressed interest in the project exceeds the number of apartments we currently have. I think this attraction is partly due to the unique location and limited quantity, partly because of the class of the Ritz-Carlton brand.

The sales consulting and contracting process of this ultra-luxury apartment project will be different from the sales process of any other project in the market. This process will be "tailored" according to the demand of each customer. It will be “tailored” to ensure privacy and comfort for customers.

Our team will personally bring the legendary service and lavish privileges of the Ritz-Carlton brand to customers, whether that be in the sales office, home, or another optional location. This experience requires intensive training for personnel and synchronization of technology systems but will ensure a superior trading experience beyond expectation for elite clients.

The perspective of the living room of the first luxury apartment project in Vietnam with the legendary Ritz-Carlton brand. Photo: Masterise Homes
The perspective of the living room of the first luxury apartment project in Vietnam with the legendary Ritz-Carlton brand. Photo: Masterise Homes

How is the imprint of Ritz-Carlton shown in the project?

Ritz-Carlton is a brand with a history of nearly 100 years, loved by A-class stars, successful businessmen, and the world's richest billionaires. Referring to the Ritz-Carlton is referring to the splendid luxurious spaces that have become a symbol of the rich aristocracy. Its legendary service has become the gold standard of the resort industry, and an example of customer service of Apple to employees at its stores. That feature is featured in the Ritz-Carlton, Hanoi at The Grand.

Our design partners have carefully researched the architectural and interior spaces of Ritz-Carlton projects around the world, from the color palette to the materials, or the decoration style. The signature lion head image of the brand’s logo is hand-crafted and installed outside the project, alongside a luxurious aristocratic feature in the interior space. 

The project operations management team will be the "gentlemen and ladies" of The Ritz-Carlton. They have 150 hours of training annually to deliver the brand's legendary amenities and services. This ensures that the Ritz-Carlton, Hanoi branded apartments not only meet the brand's global standards but also have consistency and continuity with other Ritz-Carlton projects in the world, satisfying the demands of customers who know and love this 100-year-old brand.

Besides international standards, how will Hanoi's identity be expressed in the project?

With a golden location on Hang Bai street of Hanoi, we aim to bring the soul and taste of the old town into the Ritz-Carlton, Hanoi project. We determine to preserve the culture and tradition of Hanoi in the world-class residential project.

Inspired by the French architectural style of the 19th century, the project design is bold with the typical flavor of Hanoi's Old Quarter with traditional handcrafted details. The project’s pillars designed and built with special techniques. They will be gilded railings with integrated abbreviation RC. The exterior architecture of the project carries a classic luxurious breath that Hanoians have loved. The interior of the project is also dotted with details inspired by typical images of Hanoi, such as the image of casting fishing nets on the river, or the colorful street vendors.

Like the architecture of the central boulevards of Paris, this building is a combination of high-class living space and luxurious commercial space. This combination blends into the luxury shopping space of the area around Hoan Kiem Lake, further exalting the value of this luxury apartment complex.

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