Diamond Plaza

What Diamond Plaza does

Diamond Plaza is an integrated mixed-use commercial property located at 34 Le Duan Street in Ho Chi Minh City's District 1, directly opposite the Reunification Palace and the U.S. Consulate. The property comprises three vertically stacked components: the Diamond Department Store on floors 1-5, which houses an anchor mix of international luxury brands including Armani, Chanel, and Dior; Diamond Office Grade A on floors 6-12 totaling approximately 14,400 sqm of premium office space; and Diamond Apartment on floors 15-20 with 39 residential units. The asset is operated by International Business Center Company Limited and has been in continuous operation since its founding in 2000, with the operator explicitly positioning the property as the "First Outcome of Korea-Vietnam Diplomacy."

The business model generates revenue through three distinct but colocated streams: retail tenant rent and percentage commission in the department store, long-term office leases in the Grade A office component, and residential rents from the apartment units. Customer engagement is reinforced by a tiered VIP membership program (Diamond, Purple, Blue, and Black cards) and a gift voucher system that is cross-accepted at Lotte Department Store Hanoi, extending the loyalty footprint beyond the single HCMC asset. The operator runs a lean team of 43 employees, reflecting the property-management-led nature of the business rather than a retail-operator model. Recent commercial activity includes a co-marketing partnership with Singapore Airlines ("The Summer Voyage," launched July 17, 2026) and active hiring for operational roles through August 2026.

The technology stack is conventional property management technology; there is no disclosed AI, proprietary data platform, or differentiated digital capability. The principal moat is the irreplaceable CBD real estate, supplemented by 25 years of brand equity and a cross-channel loyalty ecosystem. Revenue is not publicly disclosed, and there are no signals of geographic expansion, new construction, or M&A activity that would move the business beyond its single landmark asset.

Name

Diamond Plaza

Legal name

International Business Center Company Limited (Công Ty TNHH Trung Tâm Thương Mại Quốc Tế)

Website

https://diamondplaza.com.vn

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

11–50 employees

Short description

Diamond Plaza is an integrated mixed-use property in Ho Chi Minh City's District 1, combining a luxury department store (1F-5F), Grade A office space (6F-12F), and 39 serviced apartments (15F-20F), operated by International Business Center Company Limited since 2000.

Ownership category

akta.pro rank

Product category

Mixed-Use Real Estate

NAICS

Department Stores (455110), Accommodation (721)

SIC

Retail-Department Stores (5311), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Downtown/Urban Flagship Traditional Department Stores (CRAGAAAG)

akta.pro secondary industry

Integrated Full-Service Hotel Complexes (Mixed-Use) (THAGAAAL)

Keywords

• Luxury department store
• Serviced apartment rentals
• Grade A office leasing
• Mixed-use property
• VIP membership program

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Retail Sales Commission and Tenant Rent: Diamond Plaza operates as a department store and retail property, generating revenue from retail tenant leasing and sales commission from transactions conducted within the shopping center
2. Office Space Leasing: Grade A office space leasing across 7 floors (6F-12F) with approximately 14,400 sqm of adaptable lease space, typical floor area ranging from 50 to 2,300 sqm. Offers flexible handover options (rough floor and fixed floor)
3. Serviced Apartment Rentals: 39 luxury serviced apartments (1-4 bedroom units) with minimum 6-month lease terms. Amenities include VIP membership privileges at department store, free laundry service (up to 500,000 VND), shuttle service, and shopping vouchers (up to 1,000,000 VND/month)
4. Gift Vouchers and Membership Points: Sale of Diamond Gift Vouchers in denominations of 100,000; 300,000; 500,000; and 1,000,000 VND. Loyalty program with point accumulation (10,000 VND = 1 point) for redemption into gift vouchers

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Diamond Plaza operates an integrated mixed-use complex in central Ho Chi Minh City combining a luxury department store (floors 1-5), a Grade A office tower (floors 6-12), and luxury serviced apartments (floors 15-20) in a single landmark building. Revenue is generated through retail sales commissions and tenant rent in the department store, corporate office leasing, and serviced apartment rentals, with supporting amenities including an indoor golf facility and a medical clinic.

Product overview

Diamond Plaza is an integrated mixed-use complex in Ho Chi Minh City consisting of four main components: Diamond Department Store (Floors 1-5) offering luxury retail with international brands; Diamond Office (Floors 6-12) providing Grade A office space; Diamond Apartment (Floors 15-20) with 39 luxury serviced apartments; and shared amenities including DHA Golfzon Diamond golf simulator, VIP Lounge, swimming pool, gym, and BBQ area. The complex also includes basement parking, Family Medical Practice clinic, and Food Court.

Differentiator

Problem solved

Functional benefit

Products and services

• Diamond Department Store

Quantifiable outcome

• VIP membership tiers based on spending: Diamond Member (1-9,999 points), Purple (10,000+), Blue (25,000+), Black (60,000+)
• +1 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Singapore AirlinesflagshipGTM or Marketing Partner · 17 July 2026The Summer Voyage collaboration between Diamond Plaza and Singapore Airlines, taking place July 17, 2026. Two top-spending VIP members who shop across at least 2 categories will receive 26,000 KrisFlyer miles (equivalent to 1 economy round-trip ticket HCMC-Singapore). Participating categories include Cosmetics/Perfume/Spa/Salon, Apparel/Shoes/Bags, Jewelry/Accessories/Watches, Homeware/Luggage/Toys, and Food & Beverage/Entertainment/Supermarket.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Regional players

• The Crescent Mall / Phu My Hung: Premium lifestyle mall in the Phu My Hung satellite urban area of District 7, HCMC; targets expatriate and affluent families — overlaps with Diamond Plaza's upper-middle customer base, though geographically separate.

Broad incumbents

• Landmark 81 / Vinhomes Central Park: Vietnam's tallest skyscraper combining luxury retail (Vincom Plaza), serviced apartments, and Grade A office — competes with Diamond Plaza for premium retail, residential, and office demand in HCMC, although in a different district.
• AEON Mall Vietnam: Japanese-owned mall operator running large suburban super-regional malls across Vietnam; competes for general merchandise retail spend though positioned in a different price tier than Diamond Plaza.
• Saigon Pearl (VinaCapital): Large mixed-use riverside complex in Binh Thanh District combining serviced apartments, office, and retail; offers comparable lifestyle integration but in a less prime district than Diamond Plaza.
• Bitexco Financial Tower & Mixed-Use Complex: Iconic HCMC mixed-use tower combining Grade A office, retail, and F&B; competes with Diamond Plaza for premium office tenants and tourist footfall in the District 1 CBD.

Direct peers

• Parkson Vietnam: Parkson operates mid- to upper-tier department stores across Vietnam including HCMC; it competes with Diamond Plaza for general merchandise and fashion shoppers in the same market.
• Vincom Center Dong Khoi: Vincom Center Dong Khoi is another premier mixed-use retail and office destination on the same Dong Khoi/Le Duan luxury axis in District 1 HCMC, competing for the same luxury tenant and affluent customer pool.
• Saigon Centre / Takashimaya Vietnam: Saigon Centre is a major mixed-use complex in District 1 HCMC anchored by the Takashimaya department store, directly competing with Diamond Plaza for luxury brand allocations and high-end shoppers in the same downtown catchment.
• Lotte Department Store (Vietnam): Lotte operates department stores in Vietnam (including Hanoi, where Diamond Plaza gift vouchers are accepted); it is a directly comparable Korean-heritage department store chain targeting similar premium segments and even a voucher-acceptance partner.

Others

• Savills Vietnam (Property Management Peer): International property consultancy and operator active in Grade A office leasing, mixed-use property management, and retail tenant representation in HCMC — adjacent ecosystem participant comparable on the operational model Diamond Plaza uses internally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/DiamondplazaPage
• LinkedInlinkedin.com/company/diamond-department-store

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Diamond Plaza