Cover Masterise Group has moved to increase charter capital to VND6,737 billion (photo: Masterise Homes)
Masterise Group has moved to increase charter capital to VND6,737 billion (photo: Masterise Homes)
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Masterise Group has recently drawn attention with a significant move to increase its charter capital almost threefold, now standing at VND6,737 billion.
Amid ongoing shifts in the real estate market, Masterise Group has recently made a significant move by increasing its charter capital from VND2,423 billion to VND6,737 billion.
According to updates in the business registry at the end of Q1 2025, this is the first capital adjustment in five years, following an extended period of stability. The announcement comes shortly after Mr Ho Anh Minh—son of Techcombank Chairman Ho Hung Anh—officially assumed the role of General Director. The shift signals more than just a capital increase, with further changes visible across senior leadership throughout the broader Masterise ecosystem. What does this strategic decision suggest, and what new ambitions might the group be setting its sights on?
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The Masterise ecosystem is also seeing shifts in its leadership structure. Mr Minh has taken the reins not only at the parent company but also at Masterise Homes, the group’s core development arm. His uncle, Mr Ho Anh Ngoc (born in 1982 and younger brother of the Techcombank Chairman) has been appointed Chairman of the Members’ Council. Both are now legal representatives of the group. As of now, Mr Minh and his mother, Ms Nguyen Thi Thanh Thuy, each hold more than 10% of Masterise’s capital.
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Above Masterise was established in 2007 and quickly rose to prominence in Vietnam’s premium real estate sector (photo: Masterise Homes)
Masterise was established in 2007 and quickly rose to prominence in Vietnam’s premium real estate sector (photo: Masterise Homes)
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Previously known as Thao Dien Investment Joint Stock Company, Masterise was established in 2007 and quickly rose to prominence in Vietnam’s premium real estate sector. Beginning with the Masteri Thao Dien project in Thu Duc City, Ho Chi Minh City, the group has since expanded its portfolio across the country. Flagship developments include Masteri West Heights, Millennium, Lumiere Riverside, The Global City, and Grand Marina Saigon. Known not just for their impressive scale but also for commanding prices of up to VND500 million per square metre, these projects have cemented Masterise’s position in the luxury real estate market. While the main legal entity is lean, with only ten staff, the broader ecosystem includes subsidiaries such as Masterise Homes, Masterise Services, Masterise Agents, and Masterise Hotels.
Above Mr Ho Hung Anh, Chairman of Techcombank and co-founder of Masan Group
Mr Ho Hung Anh, Chairman of Techcombank and co-founder of Masan Group
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Mr Minh’s entry into the group’s top leadership has drawn interest across both financial and property sectors. At 30, he represents the next generation of Vietnam’s business elite, holding 4.88% of Techcombank’s capital, valued at nearly VND9,500 billion. With a strong academic background and early exposure to corporate affairs, he is seen as a rising figure in Vietnam’s next wave of leadership. His presence on the board, alongside Mr Ngoc, signals an era of renewed momentum for the group.
Mr. Ho Hung Anh , Chairman of Techcombank and co-founder of Masan Group, was recently listed by Forbes (May 2025) as possessing a personal fortune of US$2 billion, placing him 1,825th among the world’s billionaires. Under his leadership, Techcombank has become Vietnam’s second most profitable private bank, posting more than VND25,600 billion ($1 billion) in profit for 2022. While speculation has long surrounded the relationship between Masterise and Techcombank, Mr Hung Anh clarified during the group’s 2023 annual meeting that Masterise operates independently focused on project development and fee-based revenues rather than relying on credit lines from banks.
