HKUST Led Project Marks Hong Kong’s First Scientific Payload on the National Space Station
HONG KONG SAR - Media OutReach Newswire - 13 May 2026 - The world's first lightweight, high‑resolution, high‑precision synergistic observatory for carbon dioxide (CO₂) and methane (CH₄) emission point sources – named "MUSICO", Multi‑Spectral Imaging Carbon Observatory, led by The Hong Kong University of Science and Technology (HKUST) – was successfully launched aboard the Tianzhou‑10 cargo spacecraft on May 11 and has arrived at China's Tiangong Space Station. This is not only Hong Kong's first scientific payload deployed on the national space station, but also a historic breakthrough for the city in the development of high‑end aerospace instruments. The project fully demonstrates Hong Kong's strong capability to build national‑level cutting-edge scientific payloads, to participate in long‑term space station missions, and to play a key role in addressing global climate change while serving the nation's strategic "carbon peak and carbon neutrality" goals.
The project is led by an interdisciplinary research team from HKUST, comprising experts from the Department of Civil and Environmental Engineering, the Division of Emerging Interdisciplinary Areas, the Division of Environment and Sustainability, the Department of Computer Science and Engineering, and the Division of Public Policy. In late 2024, the project received formal approval from the Technology and Engineering Center for Space Utilization of the Chinese Academy of Sciences (CSU.CAS), the general research center for the Space Utilization System. It is jointly developed with the CAS Changchun Institute of Optics, Fine Mechanics and Physics, and funded by the Special Call (Aerospace Technology) of the Innovation and Technology Support Program under the Innovation and Technology Commission of the HKSAR Government.
MUSICO is a lightweight, high‑resolution, high‑precision greenhouse gas point‑source detection payload capable of accurately measuring CO₂ and CH₄ — two major greenhouse gases — from space. Smaller than a domestic washing machine, the instrument maintains extra-high spectral resolution and one hundred‑meter spatial resolution. By analyzing intensity changes of sunlight over specific spectral bands as it passes through the atmosphere and reflects off the Earth's surface, MUSICO identifies gas‑specific absorption features to determine gas concentrations and pinpoint individual emission sources, enabling effective monitoring of key facilities such as power plants and landfills.
Prof. SUN Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, remarked, "This HKUST led project represents Hong Kong's first scientific payload aboard the Tiangong Space Station, a major milestone for Hong Kong in the nation's space missions. The national 15th Five Year Plan identifies accelerating green and low carbon transition, building a space powerhouse, and achieving carbon peak as key priorities. The successful deployment of a payload autonomously developed by a Hong Kong research team on Tiangong powerfully demonstrates that Hong Kong scientists possess top tier research and technology translation capabilities in frontier fields such as aerospace technology and green low carbon science, providing the nation with high quality, verifiable scientific data to accelerate the realization of the dual carbon goals."
Prof. Nancy IP, President of HKUST, said, "We are deeply honored that our HKUST research team can participate in scientific missions on the national space station, and we sincerely thank the nation and the HKSAR Government for their long‑standing trust and support. This project not only highlights HKUST's accumulated strengths in aerospace engineering, satellite remote sensing, and environmental engineering, but also proves that Hong Kong's research capabilities can make substantial contributions on the nation's highest‑level aerospace platforms. As the world's first lightweight high‑precision greenhouse gas point‑source detection payload, MUSICO will continue to operate on the national space station, providing autonomous, controllable, high‑reliability CO₂ and CH₄ emission monitoring data that directly support the nation's dual‑carbon goals and provide scientific backing for the 'Beautiful China' initiative and global climate governance."
President Ip added, "In recent years, HKUST has been deepening its efforts in deep‑space exploration and low‑orbit satellite technology — following the successful launch of Hong Kong's first higher‑education satellite in 2023, we are now actively participating in the nation's Chang'e‑8 lunar exploration mission. Looking ahead, HKUST will continue to leverage its strengths in artificial intelligence, robotics, and materials science to accelerate the translation of space‑related technologies and nurture high‑end talent, contributing to the nation's accelerated drive to build a space powerhouse and achieve green, low‑carbon, high‑quality development."
Prof. SU Hui, Project Lead, Chair Professor of the Department of Civil and Environmental Engineering and Global STEM Professor at HKUST, said, "The development of MUSICO involved overcoming multiple critical technical challenges — namely, how to achieve high spectral resolution, fine spatial resolution, and synergistic multi‑gas observation under strict size and weight constraints. The team conducted extensive testing and optimization in optical design, precision manufacturing, and system integration to ensure the instrument can deliver reliable, accurate greenhouse gas data over long periods under high‑speed operation and extreme space environments. Successfully integrating these key technologies into a lightweight payload represents a landmark engineering and scientific achievement, demonstrating that the technology has reached internationally advanced standards."
Prof. ZHANG Limin, Co‑Project Lead, National Engineer Awardee and Head of the Department of Civil and Environmental Engineering at HKUST, emphasized, "MUSICO's observational coverage spans most land and ocean areas across low‑to‑mid‑latitude regions, providing consistent and comparable greenhouse gas monitoring data for different regions. The project's results will be shared with government agencies and research institutions, supporting scientific research and practical applications in the Guangdong‑Hong Kong‑Macao Greater Bay Area and in other parts of China. They will also provide a scientific basis for cross‑regional climate research and emission reduction efforts along the Belt and Road, contributing to the global response to climate change. This is both a vivid example of HKUST's research strength serving national strategy and a concrete practice of Hong Kong's research capabilities contributing to global climate governance."
The research project is co‑led by Prof. SU Hui, Chair Professor of the Department of Civil and Environmental Engineering and Global STEM Professor at HKUST, and Prof. ZHANG Limin, Chair Professor and Head of the same department. Prof. ZHAI Chengxing, Associate Professor of the Division of Emerging Interdisciplinary Areas serves as the mission system engineer. Other team members include: Senior Scientific Officer Dr. RONG Pingping, Prof. ZHANG Jize, and Prof. WANG Zhe from HKUST's Department of Civil and Environmental Engineering; Prof. NING Zhi, Prof. SHI Xiaoming, and Prof. GU Dasa from the Division of Environment and Sustainability; Prof. MA Xiaojuan from the Department of Computer Science and Engineering; Prof. ZHU Pengyu from the Division of Public Policy; Prof. GAO Meng from Hong Kong Baptist University; and Prof. LI Jia from Lingnan University.
The project has also garnered strong industry support, including funding from HKUST-incubated startup Stellerus Technology Limited. Meanwhile, CLP Power Hong Kong Limited will collaborate with the project team to explore leveraging the data collected by MUSICO to complement its relevant assessments.
Hashtag: #HKUST
The issuer is solely responsible for the content of this announcement.
HONG KONG SAR - Media OutReach Newswire - 13 May 2026 - The world's first lightweight, high‑resolution, high‑precision synergistic observatory for carbon dioxide (CO₂) and methane (CH₄) emission point sources – named "MUSICO", Multi‑Spectral Imaging Carbon Observatory, led by The Hong Kong University of Science and Technology (HKUST) – was successfully launched aboard the Tianzhou‑10 cargo spacecraft on May 11 and has arrived at China's Tiangong Space Station. This is not only Hong Kong's first scientific payload deployed on the national space station, but also a historic breakthrough for the city in the development of high‑end aerospace instruments. The project fully demonstrates Hong Kong's strong capability to build national‑level cutting-edge scientific payloads, to participate in long‑term space station missions, and to play a key role in addressing global climate change while serving the nation's strategic "carbon peak and carbon neutrality" goals.
The project is led by an interdisciplinary research team from HKUST, comprising experts from the Department of Civil and Environmental Engineering, the Division of Emerging Interdisciplinary Areas, the Division of Environment and Sustainability, the Department of Computer Science and Engineering, and the Division of Public Policy. In late 2024, the project received formal approval from the Technology and Engineering Center for Space Utilization of the Chinese Academy of Sciences (CSU.CAS), the general research center for the Space Utilization System. It is jointly developed with the CAS Changchun Institute of Optics, Fine Mechanics and Physics, and funded by the Special Call (Aerospace Technology) of the Innovation and Technology Support Program under the Innovation and Technology Commission of the HKSAR Government.
MUSICO is a lightweight, high‑resolution, high‑precision greenhouse gas point‑source detection payload capable of accurately measuring CO₂ and CH₄ — two major greenhouse gases — from space. Smaller than a domestic washing machine, the instrument maintains extra-high spectral resolution and one hundred‑meter spatial resolution. By analyzing intensity changes of sunlight over specific spectral bands as it passes through the atmosphere and reflects off the Earth's surface, MUSICO identifies gas‑specific absorption features to determine gas concentrations and pinpoint individual emission sources, enabling effective monitoring of key facilities such as power plants and landfills.
Prof. SUN Dong, Secretary for Innovation, Technology and Industry of the HKSAR Government, remarked, "This HKUST led project represents Hong Kong's first scientific payload aboard the Tiangong Space Station, a major milestone for Hong Kong in the nation's space missions. The national 15th Five Year Plan identifies accelerating green and low carbon transition, building a space powerhouse, and achieving carbon peak as key priorities. The successful deployment of a payload autonomously developed by a Hong Kong research team on Tiangong powerfully demonstrates that Hong Kong scientists possess top tier research and technology translation capabilities in frontier fields such as aerospace technology and green low carbon science, providing the nation with high quality, verifiable scientific data to accelerate the realization of the dual carbon goals."
Prof. Nancy IP, President of HKUST, said, "We are deeply honored that our HKUST research team can participate in scientific missions on the national space station, and we sincerely thank the nation and the HKSAR Government for their long‑standing trust and support. This project not only highlights HKUST's accumulated strengths in aerospace engineering, satellite remote sensing, and environmental engineering, but also proves that Hong Kong's research capabilities can make substantial contributions on the nation's highest‑level aerospace platforms. As the world's first lightweight high‑precision greenhouse gas point‑source detection payload, MUSICO will continue to operate on the national space station, providing autonomous, controllable, high‑reliability CO₂ and CH₄ emission monitoring data that directly support the nation's dual‑carbon goals and provide scientific backing for the 'Beautiful China' initiative and global climate governance."
President Ip added, "In recent years, HKUST has been deepening its efforts in deep‑space exploration and low‑orbit satellite technology — following the successful launch of Hong Kong's first higher‑education satellite in 2023, we are now actively participating in the nation's Chang'e‑8 lunar exploration mission. Looking ahead, HKUST will continue to leverage its strengths in artificial intelligence, robotics, and materials science to accelerate the translation of space‑related technologies and nurture high‑end talent, contributing to the nation's accelerated drive to build a space powerhouse and achieve green, low‑carbon, high‑quality development."
Prof. SU Hui, Project Lead, Chair Professor of the Department of Civil and Environmental Engineering and Global STEM Professor at HKUST, said, "The development of MUSICO involved overcoming multiple critical technical challenges — namely, how to achieve high spectral resolution, fine spatial resolution, and synergistic multi‑gas observation under strict size and weight constraints. The team conducted extensive testing and optimization in optical design, precision manufacturing, and system integration to ensure the instrument can deliver reliable, accurate greenhouse gas data over long periods under high‑speed operation and extreme space environments. Successfully integrating these key technologies into a lightweight payload represents a landmark engineering and scientific achievement, demonstrating that the technology has reached internationally advanced standards."
Prof. ZHANG Limin, Co‑Project Lead, National Engineer Awardee and Head of the Department of Civil and Environmental Engineering at HKUST, emphasized, "MUSICO's observational coverage spans most land and ocean areas across low‑to‑mid‑latitude regions, providing consistent and comparable greenhouse gas monitoring data for different regions. The project's results will be shared with government agencies and research institutions, supporting scientific research and practical applications in the Guangdong‑Hong Kong‑Macao Greater Bay Area and in other parts of China. They will also provide a scientific basis for cross‑regional climate research and emission reduction efforts along the Belt and Road, contributing to the global response to climate change. This is both a vivid example of HKUST's research strength serving national strategy and a concrete practice of Hong Kong's research capabilities contributing to global climate governance."
The research project is co‑led by Prof. SU Hui, Chair Professor of the Department of Civil and Environmental Engineering and Global STEM Professor at HKUST, and Prof. ZHANG Limin, Chair Professor and Head of the same department. Prof. ZHAI Chengxing, Associate Professor of the Division of Emerging Interdisciplinary Areas serves as the mission system engineer. Other team members include: Senior Scientific Officer Dr. RONG Pingping, Prof. ZHANG Jize, and Prof. WANG Zhe from HKUST's Department of Civil and Environmental Engineering; Prof. NING Zhi, Prof. SHI Xiaoming, and Prof. GU Dasa from the Division of Environment and Sustainability; Prof. MA Xiaojuan from the Department of Computer Science and Engineering; Prof. ZHU Pengyu from the Division of Public Policy; Prof. GAO Meng from Hong Kong Baptist University; and Prof. LI Jia from Lingnan University.
The project has also garnered strong industry support, including funding from HKUST-incubated startup Stellerus Technology Limited. Meanwhile, CLP Power Hong Kong Limited will collaborate with the project team to explore leveraging the data collected by MUSICO to complement its relevant assessments.
Hashtag: #HKUST
The issuer is solely responsible for the content of this announcement.
** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **
Vietnam’s First Mixed-Use Landmark Destination
Set opposite Ben Thanh Market, One Central Saigon is a landmark mixed-use destination where luxury living, hospitality, retail and business converge at the centre of Ho Chi Minh City. The project also marks The Ritz-Carlton hotel brand's debut in Vietnam, alongside The Ritz-Carlton Residences, Saigon, Grade A+ offices, curated retail, services and fine dining.
HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 13 May 2026 - Masterise Homes, a member of Masterise Group, has officially launched One Central Saigon, Vietnam's first mixed-use landmark destination, marking the arrival of a new address where international standards of living, hospitality, retail, business and services come together in Ho Chi Minh City.
One Central Saigon brings together The Ritz-Carlton, Saigon, The Ritz-Carlton Residences, Saigon, Grade A+ offices, curated retail, dining and lifestyle experiences in central Ho Chi Minh City.
The launch event was attended by representatives of Ho Chi Minh City government authorities, senior leaders from Masterise Group, Masterise Homes and Marriott International, as well as leading experts in real estate, economics and tourism.
Over the past decade, the centre of gravity of the global economy has shifted decisively towards Asia, with Vietnam emerging as one of the region's most compelling growth stories. Ho Chi Minh City, the country's economic engine, is entering a new phase of development as a dynamic, deeply connected metropolis.
Around the world, certain developments have helped shape how cities are recognised internationally, from Hong Kong's IFC and Singapore's Marina Bay Sands to Kuala Lumpur's Petronas Twin Towers and Dubai's Burj Khalifa. These projects did more than create striking skylines. They helped shape how the world sees their cities and countries. One Central Saigon is positioned within this tradition of city-shaping developments, with a vision that combines international standards, Vietnamese identity and long-term urban value.
"We believe Vietnam has reached the moment where it is ready for a development of the calibre of One Central Saigon," said Ms Nguyen Thi Minh Phuong, Managing Director, Southern Region, Masterise Group. "The project has been present in Ho Chi Minh City for some time and has passed through several phases of development. Today, it is being introduced with a clearer vision. With a sense of responsibility to contribute to the nation's development journey in a new era, Masterise Group aspires to continue building an iconic landmark where the world's highest experiential standards converge with the identity, energy and ambition of the city. This is also how we contribute to projecting the image of a modern, confident and culturally rich Vietnam onto the international stage."
A rare address in the city's historic core
For more than a century, Ben Thanh Market has been one of Ho Chi Minh City's great urban constants: a place of trade, arrival and encounter, and one of the few landmarks instantly recognised across Vietnam and beyond.
Its clock tower, market halls and surrounding streets are woven into the city's daily rhythm and public memory, giving the area a significance that extends far beyond location. Set directly opposite the market, with four rare frontages along Pham Ngu Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh streets in the former District 1, One Central Saigon holds one of the city's most strategic locations and shares a unique connection with Ho Chi Minh City's historic urban core.
One Central Saigon will rise as two towers above a retail and commercial podium on an 8,537 sqm site, with 19,990 sqm of commercial space across seven above-ground levels and six basement floors. The retail centre is envisioned as a destination for luxury retail, curated services and fine dining, with brands and experiences selected for both international appeal and the evolving needs of Vietnamese customers. Its basement levels will connect directly to Ben Thanh Metro Station via an underground link, integrating the project with the city's public transit network.
Together with Grade A+ offices, The Ritz-Carlton, Saigon and The Ritz-Carlton Residences, Saigon, the development forms a seamless mixed-use ecosystem for luxury living, hospitality, retail, business, services and lifestyle experiences at the centre of Ho Chi Minh City.
Song Long Ngậm Ngọc: Vietnamese symbolism, global expertise
The architecture of One Central Saigon is inspired by Song Long Ngậm Ngọc, or Twin Dragons Playing with a Pearl, a Vietnamese cultural motif associated with strength, prosperity and wisdom. The two towers rise and converge around a central point, creating a contemporary architectural expression of Vietnamese identity within the Ben Thanh district.
Among the tallest twin towers in Vietnam and the region, One Central Saigon is a structurally complex undertaking that requires significant investment, precision, and attention at every stage of execution. The project brings together an international design and construction team, including Arquitectonica as design architect, HBA for interior design, B+H, a member of Surbana Jurong Group, as executive architect, and Turner for project management.
International operational standards add another defining layer of value to One Central Saigon. With more than a century of heritage in luxury hospitality, The Ritz-Carlton brings refinement, attention to detail, privacy and highly personalised service to the project's ultra-luxury positioning.
The Ritz-Carlton Residences, Saigon opens a new chapter in ultra-luxury living, while The Ritz-Carlton, Saigon marks the hotel brand's debut in Vietnam, reflecting Ho Chi Minh City's growing appeal to international travellers, investors, entrepreneurs and high-net-worth individuals.
The Grade A+ office component is designed for global corporations and forward-thinking business leaders seeking a workplace within a 5-star international ecosystem.
Vietnam's luxury momentum accelerates
The launch comes as Vietnam continues to attract global capital, international brands and a rising generation of high-net-worth consumers. Official data showed real GDP growth of 8.02% in 2025, up from 7.09%, while foreign direct investment reached a record US$27.62 billion.
Tourism is adding further momentum. Vietnam welcomed nearly 21.2 million international visitors in 2025, its strongest year for inbound tourism, while Ho Chi Minh City received nearly 8.6 million international visitors, up 40.3% year on year.
Branded residences are following the same trajectory. Savills reports that branded residences in Asia Pacific increased by 55% over the past five years, while C9 Hotelworks' Asia Branded Residences Market Review 2025 points to Vietnam as one of the region's most important future supply markets.
For Masterise Group, One Central Saigon extends an international branded real estate portfolio that includes Grand Marina, Saigon, featuring Marriott and JW Marriott-branded residences, and The Ritz-Carlton Residences, Hanoi at The Grand. It also gives Vietnam's ultra-luxury real estate growth story tangible form beside one of Ho Chi Minh City's most prized historical sites.
As the city enters a new phase of development, expanding in both scale and quality, thoughtfully planned and professionally operated integrated developments such as One Central Saigon are expected to enrich the city's tourism, services and urban experience ecosystem. The project is positioned to create lasting value for the community and elevate the standing of Ho Chi Minh City and Vietnam on the international stage.
Hashtag: #MasteriseGroup
The issuer is solely responsible for the content of this announcement.
About Masterise Group
Masterise Group is an international real estate development group, pioneering a comprehensive ecosystem spanning residential and hospitality developments, as well as urban infrastructure and logistics. Founded in 2007 as Thao Dien Investment and officially rebranded as Masterise Group in 2019, Masterise Group sees real estate as more than buildings; it is the foundation for a nation's future, providing infrastructure for connection, momentum for progress, elevated living and generational legacy. With a long-term vision, Masterise Group continuously pushes boundaries, creates sustainable value, elevates quality of life and contributes to strengthening Vietnam's new era of growth and global ambition.
Masterise Homes is a member of Masterise Group and manages and develops all of the group's residential real estate brands. As Vietnam's pioneer in branded real estate development, Masterise Homes' mission goes beyond delivering architectural landmarks with refined design and integrated amenities. Masterise Homes strives to craft comprehensive living spaces where residents experience a standard of living that goes beyond the basic function of a home.
More info: https://masterisegroup.com/en.
For images: LINK
Set opposite Ben Thanh Market, One Central Saigon is a landmark mixed-use destination where luxury living, hospitality, retail and business converge at the centre of Ho Chi Minh City. The project also marks The Ritz-Carlton hotel brand's debut in Vietnam, alongside The Ritz-Carlton Residences, Saigon, Grade A+ offices, curated retail, services and fine dining.
HO CHI MINH CITY, VIETNAM - Media OutReach Newswire - 13 May 2026 - Masterise Homes, a member of Masterise Group, has officially launched One Central Saigon, Vietnam's first mixed-use landmark destination, marking the arrival of a new address where international standards of living, hospitality, retail, business and services come together in Ho Chi Minh City.
One Central Saigon brings together The Ritz-Carlton, Saigon, The Ritz-Carlton Residences, Saigon, Grade A+ offices, curated retail, dining and lifestyle experiences in central Ho Chi Minh City.
The launch event was attended by representatives of Ho Chi Minh City government authorities, senior leaders from Masterise Group, Masterise Homes and Marriott International, as well as leading experts in real estate, economics and tourism.
One Central Saigon brings together The Ritz-Carlton, Saigon, The Ritz-Carlton Residences, Saigon, Grade A+ offices, curated retail, dining and lifestyle experiences in central Ho Chi Minh City.
Over the past decade, the centre of gravity of the global economy has shifted decisively towards Asia, with Vietnam emerging as one of the region's most compelling growth stories. Ho Chi Minh City, the country's economic engine, is entering a new phase of development as a dynamic, deeply connected metropolis.
Around the world, certain developments have helped shape how cities are recognised internationally, from Hong Kong's IFC and Singapore's Marina Bay Sands to Kuala Lumpur's Petronas Twin Towers and Dubai's Burj Khalifa. These projects did more than create striking skylines. They helped shape how the world sees their cities and countries. One Central Saigon is positioned within this tradition of city-shaping developments, with a vision that combines international standards, Vietnamese identity and long-term urban value.
"We believe Vietnam has reached the moment where it is ready for a development of the calibre of One Central Saigon," said Ms Nguyen Thi Minh Phuong, Managing Director, Southern Region, Masterise Group. "The project has been present in Ho Chi Minh City for some time and has passed through several phases of development. Today, it is being introduced with a clearer vision. With a sense of responsibility to contribute to the nation's development journey in a new era, Masterise Group aspires to continue building an iconic landmark where the world's highest experiential standards converge with the identity, energy and ambition of the city. This is also how we contribute to projecting the image of a modern, confident and culturally rich Vietnam onto the international stage."
A rare address in the city's historic core
For more than a century, Ben Thanh Market has been one of Ho Chi Minh City's great urban constants: a place of trade, arrival and encounter, and one of the few landmarks instantly recognised across Vietnam and beyond.
Its clock tower, market halls and surrounding streets are woven into the city's daily rhythm and public memory, giving the area a significance that extends far beyond location. Set directly opposite the market, with four rare frontages along Pham Ngu Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh streets in the former District 1, One Central Saigon holds one of the city's most strategic locations and shares a unique connection with Ho Chi Minh City's historic urban core.
One Central Saigon will rise as two towers above a retail and commercial podium on an 8,537 sqm site, with 19,990 sqm of commercial space across seven above-ground levels and six basement floors. The retail centre is envisioned as a destination for luxury retail, curated services and fine dining, with brands and experiences selected for both international appeal and the evolving needs of Vietnamese customers. Its basement levels will connect directly to Ben Thanh Metro Station via an underground link, integrating the project with the city's public transit network.
Together with Grade A+ offices, The Ritz-Carlton, Saigon and The Ritz-Carlton Residences, Saigon, the development forms a seamless mixed-use ecosystem for luxury living, hospitality, retail, business, services and lifestyle experiences at the centre of Ho Chi Minh City.
Song Long Ngậm Ngọc: Vietnamese symbolism, global expertise
The architecture of One Central Saigon is inspired by Song Long Ngậm Ngọc, or Twin Dragons Playing with a Pearl, a Vietnamese cultural motif associated with strength, prosperity and wisdom. The two towers rise and converge around a central point, creating a contemporary architectural expression of Vietnamese identity within the Ben Thanh district.
Among the tallest twin towers in Vietnam and the region, One Central Saigon is a structurally complex undertaking that requires significant investment, precision, and attention at every stage of execution. The project brings together an international design and construction team, including Arquitectonica as design architect, HBA for interior design, B+H, a member of Surbana Jurong Group, as executive architect, and Turner for project management.
International operational standards add another defining layer of value to One Central Saigon. With more than a century of heritage in luxury hospitality, The Ritz-Carlton brings refinement, attention to detail, privacy and highly personalised service to the project's ultra-luxury positioning.
The Ritz-Carlton Residences, Saigon opens a new chapter in ultra-luxury living, while The Ritz-Carlton, Saigon marks the hotel brand's debut in Vietnam, reflecting Ho Chi Minh City's growing appeal to international travellers, investors, entrepreneurs and high-net-worth individuals.
The Grade A+ office component is designed for global corporations and forward-thinking business leaders seeking a workplace within a 5-star international ecosystem.
Vietnam's luxury momentum accelerates
The launch comes as Vietnam continues to attract global capital, international brands and a rising generation of high-net-worth consumers. Official data showed real GDP growth of 8.02% in 2025, up from 7.09%, while foreign direct investment reached a record US$27.62 billion.
Tourism is adding further momentum. Vietnam welcomed nearly 21.2 million international visitors in 2025, its strongest year for inbound tourism, while Ho Chi Minh City received nearly 8.6 million international visitors, up 40.3% year on year.
Branded residences are following the same trajectory. Savills reports that branded residences in Asia Pacific increased by 55% over the past five years, while C9 Hotelworks' Asia Branded Residences Market Review 2025 points to Vietnam as one of the region's most important future supply markets.
For Masterise Group, One Central Saigon extends an international branded real estate portfolio that includes Grand Marina, Saigon, featuring Marriott and JW Marriott-branded residences, and The Ritz-Carlton Residences, Hanoi at The Grand. It also gives Vietnam's ultra-luxury real estate growth story tangible form beside one of Ho Chi Minh City's most prized historical sites.
As the city enters a new phase of development, expanding in both scale and quality, thoughtfully planned and professionally operated integrated developments such as One Central Saigon are expected to enrich the city's tourism, services and urban experience ecosystem. The project is positioned to create lasting value for the community and elevate the standing of Ho Chi Minh City and Vietnam on the international stage.
Hashtag: #MasteriseGroup
The issuer is solely responsible for the content of this announcement.
About Masterise Group
Masterise Group is an international real estate development group, pioneering a comprehensive ecosystem spanning residential and hospitality developments, as well as urban infrastructure and logistics. Founded in 2007 as Thao Dien Investment and officially rebranded as Masterise Group in 2019, Masterise Group sees real estate as more than buildings; it is the foundation for a nation's future, providing infrastructure for connection, momentum for progress, elevated living and generational legacy. With a long-term vision, Masterise Group continuously pushes boundaries, creates sustainable value, elevates quality of life and contributes to strengthening Vietnam's new era of growth and global ambition.
Masterise Homes is a member of Masterise Group and manages and develops all of the group's residential real estate brands. As Vietnam's pioneer in branded real estate development, Masterise Homes' mission goes beyond delivering architectural landmarks with refined design and integrated amenities. Masterise Homes strives to craft comprehensive living spaces where residents experience a standard of living that goes beyond the basic function of a home.
More info: https://masterisegroup.com/en.
For images: LINK
** This press release is distributed by Media OutReach Newswire through automated distribution system, for which the client assumes full responsibility. **
