“So Many Famous Branded Residences”: Vietnam Ranks Third Worldwide, After the UAE and the US

【HANOI, Vietnam—Correspondent Kim Jun-seok】Vietnam has emerged as the world’s third-largest market for branded residences, with around 16,000 units in total, including completed properties and those under construction, after the UAE and the US.
According to local media on the 14th, British real estate consultancy Global Branded Residences (GBR) said in its recently released market report, The Brand Standard, that Vietnam had 68 projects with 16,135 branded-residence units. That is the world’s third-largest total, after the UAE (84,972 units) and the US (71,592 units).
The three areas with the greatest concentration of branded residences in Vietnam are Ho Chi Minh City (3,503 units), Ha Long (2,860) and Da Nang (1,429), according to the findings. In particular, sale prices at the complex operating under The Ritz-Carlton Residence, a leading branded-residence project in Ho Chi Minh City, have now topped 1 billion dong per square meter (about 51.64 million won). Of the 68 projects in total, 19 have already been completed, and most are located in coastal areas.
By location, Da Nang had the most projects, with eight, followed by Phu Quoc (seven), Hoi An (six) and Ha Long (five). In particular, Mercure Residences Ha Long, with a total of 2,259 units, is the largest single-brand residential project in the Asia-Pacific region.
Among operators, global hotel chain Accor Group dominates the Vietnamese market. Leveraging its brands, including Fairmont Hotels & Resorts, Sofitel, Mercure and Novotel, Accor operates and manages 23 projects with 7,854 units—nearly half of all branded residences in Vietnam.
High-end projects operated by top global brands such as Marriott International and The Ritz-Carlton have also established themselves in the market. Vietnam currently has 49 projects that are unfinished or planned for construction, ranking sixth worldwide by development pipeline after the UAE, the US, Mexico, Brazil and Saudi Arabia.
By number of projects, Vietnam ranks second in the Asia-Pacific region with 68, behind Thailand (73) and ahead of India (61). Thailand currently has the world’s fifth-largest number of branded-residence projects, concentrated mainly in Phuket and Bangkok.
A GBR representative explained, “The number of projects is an indicator of the level of development of the branded-residence sector in a given market, and by this measure Thailand remains the largest market in the region. The total number of units shows the volume of products actually supplied to the market and the scale of buyers’ actual demand.”
[email protected] Kim Jun-seok Reporter