Empire City Thủ Thiêm

About Empire City Thủ Thiêm

Empire City is a **14.5-hectare** mixed-use complex on plot 2B of the Thu Thiem New Urban Area, with total investment of about **USD 1.2 billion** and gross floor area of roughly **763,438 m²**. It is master-planned as **11 subdivisions, MU1 – MU11 (25 – 88 storeys), across nine land plots**, totalling around **3,787 apartments**, alongside a five-star hotel, an office block and a shopping mall. The planning centrepiece is the mixed-use **88-storey Empire 88 Tower** — once expected to become the tallest building in Vietnam, it has still not broken ground. Three residential subdivisions have been completed and handed over: **Linden Residences (MU4, Q4/2020, 510 units)**, **Tilia Residences (MU7, Q1/2021, 475 units)** and **Cove Residences (MU11, Q2/2022, 136 units)** — more than **1,100 units** in total are already occupied.

**Where sales stand today.** The most recent primary subdivision is **Narra Residences (MU8)**: two towers of 29 – 30 storeys on a site of about 7,700 m², with 278 apartments and penthouses in total, built by Ricons, and completion and handover expected in **2027 – 2028**. It is worth noting that Narra **first opened for sale in late 2019** at an average of about USD 6,300/m² and **essentially sold out within a short period**, after which sales activity was paused. On **10 July 2026**, the Ho Chi Minh City Department of Construction confirmed that all 278 Narra units **qualify for sale as future-formed housing**, after the developer paid 100% of the land-use fee for this plot and obtained a **bank guarantee from BIDV**; from August 2026 the project moved into the deposit and sale-and-purchase agreement (SPA) signing stage for buyers who had reserved units. As a result, the stock actually available on the market today consists mainly of **resale (secondary) inventory** at Linden – Tilia – Cove, plus a limited number of remaining primary Narra units.

**On pricing.** According to VnExpress (29 May 2026), price levels across the Empire City subdivisions run at roughly **VND 250 – 500 million/m²**, depending on the tower, the floor and the river view. Two price bands are clearly distinct: **secondary** stock at Linden – Tilia – Cove records one-bedroom units of 59 – 64 m² at about **VND 14 – 20 billion** and three-bedroom units of 127 – 155 m² at about **VND 33 – 70 billion**; while the **primary price list for Narra Residences** sits lower, with one-bedroom units of about 62 – 63 m² from **VND 11 – 13.7 billion** and three-bedroom units at about **VND 16 – 45 billion**. Penthouses of 355 – 408 m² are quoted at very high levels. These are reference figures only, and they vary widely by tower, floor and view.

**Developer and legal status.** The project is developed by Empire City LLC (Cong ty TNHH Lien doanh Thanh pho De Vuong). The shareholding is changing: Keppel is transferring its entire **40% stake for about USD 270 million** to Denver Power Vietnam (part of Gaw Capital Partners, 20%) and Golden Axis (of Tran Thai and Tien Phuoc, 20%), with completion expected in **Q4 2026**; after the transaction the project's shareholders will be Gaw Capital Partners, Tien Phuoc and Tran Thai. This is a joint venture with a proven delivery record — three subdivisions already handed over and operating smoothly are clear evidence of that. On the legal side, buyers should be aware of two points: (1) the project has so far been granted **land-use right certificates for only 3 of its 9 land plots**, with the remaining plots still going through procedures; (2) plot MU8 (Narra) in particular has completed its land-use fee obligation, carries a bank guarantee and has been confirmed eligible for sale as future-formed housing. Apartments here are held in perpetuity by Vietnamese nationals and for 50 years (with extension to be considered) by foreign buyers.

**Who is it for?** Empire City suits owner-occupiers and long-term investors in the luxury segment who value a core Thu Thiem address next to District 1 and Saigon River views that are unlikely to be blocked. With three towers already occupied, the area has a genuine community and a real rental market — still rare in Thu Thiem. Conversely, it is not the right choice for buyers who need fast cash flow or who must hold the pink book (so hong) immediately, since certificates have so far been issued for only part of the complex's land plots.

**Buying on the resale market.** Most Empire City transactions today are resale units at Linden, Tilia and Cove. When buying second-hand, you should: (1) compare asking prices in **VND million per m²** rather than headline totals, because the gap between floors and river orientations is very large and secondary prices currently sit above Narra's primary level; (2) confirm whether the unit already holds a **pink book (so hong)** or is still at sale-and-purchase agreement stage — certificates have been issued for 3 of the 9 land plots, and the rest are still pending; (3) budget the full transfer costs, including **2% personal income tax** on the transfer price, the **0.5% registration fee** and notary fees; (4) if you are a foreign buyer, check whether that particular tower still has **30% quota** available before placing a deposit, because a unit bought from a Vietnamese owner remains bound by this cap. As for future primary supply, beyond the remaining Narra Residences units, plots MU3, MU5, MU6 and the Empire 88 Tower have yet to be launched.

Happy Land provides the **developer's official price list and the remaining primary inventory for Narra Residences** directly from the developer, and updates the **Linden – Tilia – Cove resale inventory** weekly, together with support on legal checks, pink book status and the remaining foreign-ownership quota for each unit before you place a deposit.