An artist’s impression of a Masterise project in Ho Chi Minh City. Photo courtesy of Masterise
Ho Anh Minh, the son of Techcombank billionaire chairman Ho Hung Anh, has become the CEO of property developer Masterise, a company part of the lender’s ecosystem.
Minh, 30, was appointed the CEO in mid-January, according to a recent disclosure of Masterise. He holds a 10% stake in Masterise and a 4.87% stake in Techcombank.
The connection between Masterise Group and Techcombank has drawn attention from the bank’s shareholders in recent years.
Responding to their questions, chairman Anh clarified that Masterise Group is not a real estate investment firm but a project developer, partnering with investors to execute projects and earn fees.
“Techcombank does not provide credit to Masterise to finance projects,” he told the lender’s 2023 annual general meeting.
Masterise, founded in 2007, has only 10 staff members, according to its business registration.
Despite the limited pay roll, the company operates many real estate products and services including Masterise Homes, Masterise Services, Masterise Agents and Masterise Hotels.
Its first project was Masteri Thao Dien residential area in Thu Duc City, HCMC. Now it has projects in many localities, both in northern and southern regions.
