TOKYU LAND CORPORATION to Develop For-Sale Residential Project With More Than 2,600 Units in Ho Chi Minh City

TOKYU LAND CORPORATION, in a joint venture with Mitsubishi Corporation and local Vietnamese developer Phat Dat Real Estate Development, has launched the development of Monrei Saigon, a for-sale residential project in Ho Chi Minh City. The project will deliver more than 2,600 residential units on a site of approximately 1.8 hectares, with sales scheduled to begin in May 2026.

The development site is located along Nguyen Thi Minh Khai Street in northeastern Ho Chi Minh City, within an area with a high concentration of foreign direct investment. The project will comprise three buildings, with a site area of approximately 5,489 tsubo (approx. 195,338 sq. ft.) and a Gross Floor Area of approximately 62,204 tsubo (approx. 2,213,956 sq. ft.). Completion is scheduled from 2027 to 2028. The development is built around the concept of Vietnam’s first “Urban Hydrotherapy City,” incorporating water not merely as a landscape feature but as part of the area’s living infrastructure and urban design. In addition to wellness amenities such as hot springs and saunas, the project will feature water-themed shared amenities including an aqua gym and an aquatonic pool.

The area is seeing rapid urbanization and inflows of foreign direct investment, driving growing demand for high-quality housing for business professionals. The project is being advanced by a three-company Japan-Vietnam partnership consisting of TOKYU LAND CORPORATION, Mitsubishi Corporation and local developer Phat Dat. BigFour, a Ho Chi Minh City-based strategic consulting firm, is supporting product strategy and concept planning as development advisor, and the project has already attracted interest from more than 70 sales agencies.

Key Facts

• Property Name:

  Monrei Saigon

• Project Sponsor:

  TOKYU LAND CORPORATION, Mitsubishi Corporation, Phat Dat Real Estate Development Corporation

• Location:

  Thuan An District, Ho Chi Minh City, Vietnam (formerly Binh Duong Province)

• Completion:

  2027–2028

• Number of Floors:

  3 buildings

• Area:

  Site Area approximately 5,489 tsubo (approx. 195,338 sq. ft.); Gross Floor Area approximately 62,204 tsubo (approx. 2,213,956 sq. ft.)

• Total Units (planned):

  More than 2,600 units