The surveyed area around Thu Thiem Financial Center in Ho Chi Minh City reveals no condominium projects priced below VND 110 million per square meter.
Note: The prices indicated in the survey are average values; actual prices may vary significantly. Source: Batdongsan.com.vn
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The highest price is VND 450 million per square meter at Grand Marina, followed by The Opera Residence at the same rate. Adjacent to it, The Metropoli The Galleria Residence is priced at VND 250 million per square meter. These two projects, located across Thu Thiem, even surpass The Marq in District 1, priced at VND 220 million per square meter.
Notably, both top-priced projects, The Metropoli The Galleria Residence and The Opera Residence, are developed by SonKim.
The Galleria Residence is the initial phase of The Metropoli Thu Thiem (also known as the Song Viet Urban Complex, comprising four sub-zones), with apartment handovers starting in mid-2021. Situated on a prime 14,987 sqm plot, the three 12-story Galleria towers—named after the renowned Hermitage, Prado, and Louvre museums—offer 456 apartments (2-4 bedrooms) and penthouses. Each floor features a minimal density of just seven units.
The project announced its 2018 prices at USD 5,500–7,500 per square meter (approximately VND 130–180 million), with units ranging from VND 11.2 to 85 billion. Rental prices started at VND 18 million per unit.
Currently, The Galleria Residence units are listed on Batdongsan.com.vn at VND 193–403 million per square meter. A 3-bedroom river-view unit is priced around VND 42 billion. Rental rates range from VND 35–140.5 million per month.
The three Galleria Residence towers. According to Batdongsan.com.vn, prices have risen by over 33%, and rents by 39% in the past year.
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The Crest Residence, the second phase of The Metropole Thu Thiem, covers 13,168 sqm and was launched in 2019, completing in 2023. SonKim reports that all 240 units in the single 24-story building are sold out.
A 79 sqm 1-bedroom unit here is priced at VND 12.8–13.5 billion (VND 162–170 million per square meter). 2-bedroom units (85–115 sqm) range from VND 16.5–20 billion (up from VND 12.5–17 billion at launch). 3-bedroom units (129–151 sqm) have doubled to VND 28–42 billion (VND 217–280 million per square meter). Rental prices range from VND 50–100 million per month.
The Crest Residence (left) adjacent to The Galleria Residence. According to Batdongsan.com.vn, prices have surged by over 70%, with rents up 3% in the past year.
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The Opera Residence, the third phase of The Metropole Thu Thiem, is located on a 11,370 sqm plot in Functional Zone 1, featuring 646 units.
The Scala and Massimo towers, launched in 2020, are priced at VND 254–670 million per square meter. A 55 sqm 1-bedroom unit averages VND 14–18 billion; 2-bedroom units (69–94 sqm) range from VND 20–38 billion; 3-bedroom units (137 sqm) from VND 29–82 billion; and 4-bedroom units (179 sqm) from VND 75–120 billion. Rental rates are VND 37–155 million per month.
According to Batdongsan.com.vn, The Opera Residence prices have risen by over 55%, with rents up 10% in the past year.
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The Opusk Residence, located on an 8,518 sqm plot at Lot 1.14, is the fourth phase, launched in late 2022, and is still under construction. The project comprises two towers with just 180 units, priced at VND 265–444 million per square meter.
According to Batdongsan.com.vn, The Opusk Residence prices have increased by 17% in the past year.
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The Metropole Thu Thiem is situated at Lots 1.16 and 1.17 in Functional Zone 1 of Thu Thiem New Urban Area, on Dai Lo Vong Cung Street, Thu Duc City. The project is within Ho Chi Minh City’s financial hub.
Developed by Quoc Loc Phat Corporation with an initial investment of VND 7.5 trillion, the project’s value, under SonKim Land’s stewardship, has far exceeded its original investment across its four sub-zones.
The Metropole Thu Thiem
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Developer Background
Quoc Loc Phat Corporation was established in 2014 with an initial charter capital of VND 300 billion. Its three founding shareholders were Nguyen Van Thang (40%), Nguyen Viet Tuan (30%), and Le Van Tu (30%).
In 2016, the year the company was appointed as the developer of the aforementioned mega-project, its capital increased to VND 1.5 trillion. The founding shareholders exited, replaced by Pham Quang Hung (Chairman and legal representative, 50%), Hai Dang Construction Investment JSC (40%), and Nguyen Minh Bao Chau (10%).
Also in 2016, Keppel Land Thu Thiem Pte. Ltd. acquired a 20% stake.
In 2020, Lim Kok Siang (Singaporean) became a legal representative alongside Hung. Subsequently, Ng Teow Hong, Joseph (2022); Nguyen Anh Huy (2023); Phung Huu Quoc Tuan (2024); and Tran Thi Mai Phuong (September 2025) assumed roles as General Directors and legal representatives.
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Pham Quang Hung is a founding shareholder of TAHUE (TAHUE). Nguyen Van Thang exited Quoc Loc Phat, with Hai Dang Construction Investment JSC (now HDMon Group, headquartered in Hanoi) taking a 40% stake. HDMon, chaired by Thang, has a charter capital of VND 3.75 trillion as of August 2022. The 2019 Government Inspectorate report on Thu Thiem noted that the Song Viet Complex was designated without a land auction, and the VND 26 million per square meter land price was improperly calculated and collected. |
SonKim Land and KSF Consortium Bid for 3,790 Resettlement Apartments in Thu Thiem
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