One Central Saigon and the Reinvention of Heritage in Modern Ho Chi Minh City

There is a particular energy to the intersection of Pham Ngu Lao and Le Thi Hong Gam. Behind it, Ben Thanh Market continues in its century-old rhythm: vendors calling out prices, motorbikes weaving through narrow streets, the scent of fresh herbs and grilled seafood drifting through the tropical heat. Around it, old shophouses stand beside glass towers as the city expands outward at remarkable speed. 

It is within this layered urban fabric that One Central Saigon is taking shape.

Occupying what may be one of the last trophy sites in District 1, the project spans an 8,537 sqm site with four rare street frontages along Pham Ngu Lao, Calmette, Le Thi Hong Gam and Pho Duc Chinh streets. The twin towers, among the tallest in Vietnam, will house The Ritz-Carlton’s hotel debut in the country alongside The Ritz-Carlton Residences, Grade A+ offices, and 19,990 sqm of retail space designed as a curated destination for luxury commerce and dining.

Yet beyond its scale, the project reflects a broader transformation underway in Ho Chi Minh City itself.

Mr. Pham Huy Binh, Party Secretary and Director of Ho Chi Minh City Department of Tourism, said: "As an integrated development model that converges hospitality, commerce, services and urban experiences, One Central Saigon is expected to contribute to completing the city's tourism and service ecosystem, while supporting the process of shaping a modern, dynamic and internationally integrated urban landscape." 

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Ben Thanh Market’s yellow clock tower has long served as the city’s unofficial meeting point - where locals arrange to meet, where travellers begin their first exploration of Saigon, and where the rhythm of Ho Chi Minh City feels most alive.

For One Central Saigon, that proximity carries both symbolic and cultural weight.

“The project occupies a remarkable site directly facing Ben Thanh Market, a place deeply intertwined with the city’s history and everyday rhythm.” stated Nelly Phuong Ta, Head of Hospitality & Entertainment, Masterise Group. 

“It is not simply present on a strategically significant parcel of land, but is also inheriting a culturally rich space that has been intrinsically connected to Saigon for more than a century.”  

That dialogue between heritage and modernity continues through the project’s architectural language. Inspired by Song Long Ngậm Ngọc - Twin Dragons Playing with a Pearl, the design reinterprets a traditional Vietnamese symbol of prosperity, wisdom and strength through a contemporary lens. The twin towers rise and converge around a central point, creating a silhouette that feels globally sophisticated while remaining distinctly rooted in Vietnamese identity. 

The project brings together an international roster of collaborators, with Arquitectonica leading the architecture design, HBA overseeing interiors, B+H serving as executive architect, and Turner managing project delivery.

The arrival of The Ritz-Carlton marks a significant milestone for Vietnam’s luxury hospitality landscape. Renowned for its discreet refinement and highly personalised service, the brand is making its hotel debut in Vietnam through One Central Saigon, a reflection of Ho Chi Minh City’s growing appeal among global luxury operators. 

Gloria Chan, Vice President, Development, APAC at Marriott International, sees the trajectory clearly. She points to impressive progress in tourism infrastructure and suggests that if current momentum continues, Ho Chi Minh City could emerge as Southeast Asia's next major destination.

Mauro Gasparotti, Senior Director, Head of SEA Savills Hotels, shared that perspective: "We have an opportunity to really bring Ho Chi Minh City to the next level."

The timing feels deliberate. Vietnam recorded 8.02% GDP growth in 2025, with foreign direct investment reaching a record $27.62 billion. Ho Chi Minh City alone welcomed 8.6 million international visitors last year, up 40.3% year-on-year. The branded residences segment across Asia Pacific has grown 55% over five years, with Vietnam identified as one of the region's most important future supply markets.

But the numbers only tell part of the story.

What One Central Saigon ultimately reflects is a broader shift in how Ho Chi Minh City sees itself, as a city increasingly confident in projecting its identity, culture and ambition onto the global stage.

For Masterise Group, the project extends an international branded portfolio that includes Grand Marina, Saigon - home to Marriott and JW Marriott-branded residences and The Ritz-Carlton Residences, Hanoi at The Grand. But One Central carries a different weight. This is the heart of District 1, the geographic and symbolic centre of Vietnam's commercial capital.

Around the world, landmark developments such as Hong Kong’s IFC, Singapore’s Marina Bay Sands and Kuala Lumpur’s Petronas Twin Towers have helped shape how cities are recognised internationally. One Central Saigon appears poised to play a similar role for Ho Chi Minh City, by bringing global standards through the energy, heritage and character of Saigon itself.

As the city enters its next chapter, the project offers a glimpse of a new urban identity emerging: internationally ambitious, culturally grounded and unmistakably Saigonese.

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