Standing at the Quach Thi Trang roundabout and looking towards the site, the two Masterise Towers are rising prominently against the District 1 skyline. This isn't a rendering or a press release — this is the reality at the 1 Pham Ngu Lao construction site as of late May 2026.

Construction Site Overview - May 2026

One Central Saigon — commercially known as Masterise Towers — is a mixed-use complex featuring two high-rise towers, a 7-story commercial podium, and a 6-level basement that connects directly to the Ben Thanh Metro Station. The construction of the two towers is being handled concurrently by two separate contractors. Field observations in May 2026 indicate that both towers are well into their high-rise superstructure construction phases.

Tower 1 — SOL E&C | Surpassing Floor 20

Our field observation on May 29, 2026, confirmed that Tower 1 has successfully surpassed the 20th-floor mark. This tower will house The Ritz-Carlton Saigon hotel — a prestigious brand under Marriott International, which signed the management and operation agreement in February 2026. Tower 1 is the taller of the two, ultimately reaching 57 floors. SOL E&C, a South Korean contractor with extensive experience in high-rise projects across Vietnam, is leading the construction.

Tower 2 — Newtecons | Currently at Floor 12

Construction on Tower 2 has currently reached the 12th floor. It is approximately 8 floors behind Tower 1, reflecting the staggered commencement of the two structures. Tower 2 will be home to The Ritz-Carlton Residences Saigon, offering 391 ultra-luxury apartments ranging from 1 to 5 bedrooms, spanning 58 to 315 sqm in area, with long-term freehold ownership for residents.

Commercial Podium | Structural Framework Completed

The 7-story above-ground podium nestled between the two towers has achieved a significant milestone with the completion of its structural framework. This podium provides seamless access to the 6 basement levels below, which open directly into the Ben Thanh Metro Station — a key transit hub connecting Metro Line 1 and Line 2. This direct metro integration is a rare and highly sought-after amenity among projects in Vietnam.

Progress Summary Table

Source: Field observation, May 29, 2026 — Achieve Realty VN

The Unknowns | A Straightforward Look

Handover Date: The official timeline remains unannounced. Pricing: There is no official price list available; the frequently cited figure of ~700 million VND/sqm serves merely as an unconfirmed market reference. Actual Progress vs. Projected Timeline: As Masterise Homes has not released a detailed construction schedule, a direct comparison is impossible. However, it is evident that construction is progressing steadily without interruption.

Why is Tracking Progress Crucial?

Given the project's complex history—transitioning through the hands of Bitexco (2013), Saigon Glory, and Viva Land/Van Thinh Phat before Masterise acquired it in 2024—tangible construction progress is the most reliable indicator of the current developer's commitment. Site photos offer undeniable proof of advancement. Achieve Realty VN remains committed to providing bimonthly updates accompanied by the latest field photography.

Last updated: May 29, 2026