Work has started on Palm River, a residential precinct comprising four 36-storey towers within the Palm City township in Ho Chi Minh City, Vietnam.
Huong Viet Properties, a Vietnamese property developer active in the residential, commercial, and industrial sectors, presented Palm River to the market on 12 August. The event followed the start of construction earlier this year, in June.
The 1.9-hectare precinct occupies a riverside plot within Palm City, a township covering approximately 30ha in Binh Trung Ward. Its four towers will rise above two basement levels.
Four residential towers planned beside the river
Around 60% of the Palm River site is allocated to planting, water features, and public space. The stated site coverage is approximately 40%.
Palm City has close to 3km of river frontage. According to Huong Viet Properties, Palm River has the longest direct river frontage of any subdivision within the township.
The towers are arranged to provide river views and increase access to natural light and ventilation. The developer said almost 80% of the apartments would be corner units.
The residential mix includes studios, one to three-bedroom apartments, duplexes, and penthouses. Floor areas range from approximately 35m2 to more than 300m2. Shophouses are also planned.
More than 40 shared facilities are proposed, including swimming pools, a spa, yoga and fitness areas, a cinema, a golf simulator, a clubhouse, and outdoor areas beside the river. Palm City’s wider plans include more than 100 amenities across education, retail, services, recreation, and other uses.
DPA leads Palm River design team
Singapore architecture practice DPA is responsible for the architectural design. Australian interior design company Dark Horse is working on the interiors, while Brazilian landscape consultancy LJ-Group is designing the landscape.
The team also includes green-building adviser Ardor Green and project management firm Core.
According to the developer, the architectural concept takes cues from flowing water. The towers are combined with landscaped areas, water features, and shared outdoor spaces across the site.
Palm River follows earlier Palm City developments
Palm City was previously developed by a partnership that included Keppel and Vietnamese companies. Keppel held a 42% interest in South Rach Chiec City, which it identified as the company developing the township.
Earlier residential developments within Palm City include Palm Residence and Palm Heights. Keppel said the two were handed over in 2017 and 2019, respectively. Huong Viet Properties reports that both are now operating, together with educational facilities and public parks within the township.
In March 2025, Singapore asset manager and operator Keppel sold its entire 42% interest in the project company to Gateway Thu Thiem for approximately S$141.4 million, including payment for the equity and the assignment of bonds issued by the project company.
Keppel said at the time that four development plots remained within Palm City: two residential sites, a mixed-use site, and a medical site.
Palm River handover scheduled for 2029
Palm City is planned as a mixed-use township combining housing with shops, offices, schools, healthcare facilities, and public amenities.
At the August event, Huong Viet Properties announced 32 strategic partners that will support Palm River’s market development. The event followed the construction start in June and introduced the precinct to the property market.
Palm River is scheduled for handover in Q1 2029.
