What Project Is CR5-2 Phú Mỹ Hưng? Location in The Crescent Area & 2026 Launch Progress

The CR5-2 Phú Mỹ Hưng development is a premium apartment project with commercial service shops at the podium, comprising 18 floors and a total gross floor area of 21,519m². It is developed by Phu My Hung Development Corporation and designed by Handel Architects LLP (USA). The development does not yet have an official commercial name and is currently known by its legal designation, “CR5-2 Apartment Development”. It forms part of Phú Mỹ Hưng’s 2.0 development roadmap from 2025 to 2030. In particular, it is one of the last remaining land parcels in The Crescent area, making it exceptionally scarce across the entire urban area.

The CR5-2 development is located in The Crescent area (Crescent Lake), forming part of a sequence of 9 land parcels, CR1 to CR9, arranged in an arc along the lake over a total area of 200,000m² and planned by Skidmore, Owings & Merrill (USA). In addition, CR5-2 directly adjoins CR5-1B, where The Regency development is being implemented, creating a unified cluster of luxury apartments at the heart of Crescent Lake, just a few minutes’ walk from Starlight Bridge and Crescent Mall.

In terms of progress, the CR5-2 development is currently in the design and construction-preparation stage, scheduled for 2026 to 2027. It has not yet been launched for sale and its official commercial name has not been announced. More importantly, this period before a commercial name has been announced is a strategic time for astute investors to take an early interest, before the market adjusts prices following the boost from the official launch, as demonstrated by the precedent of The Regency, which sold out during its launch month in November 2025.

In the following sections, this article analyses each aspect of the CR5-2 development in detail, from the nature of the project and its location in The Crescent area to its 2026 implementation progress, helping buyers and investors obtain complete information before making a decision.

What Is the CR5-2 Phú Mỹ Hưng Development?

The CR5-2 Phú Mỹ Hưng development is a mixed premium apartment project combining residential units with bustling commercial service shops at the podium. It comprises 18 floors with a total gross floor area of 21,519m², is designed by Handel Architects LLP and is expected to be constructed from 2026 to 2027.

It is one of the key developments in the Phú Mỹ Hưng 2.0 development phase, continuing the series of luxury projects around Crescent Lake following the success of The Regency (CR5-1B) and Triton Crown (CR9). Below, the project’s 2 core technical aspects are analysed in detail to clarify its nature and distinguish CR5-2 from neighbouring developments:

What Are the Technical Specifications and Scale of the CR5-2 Development?

The CR5-2 development has a total gross floor area of 21,519m² across 18 floors, with a mixed-use function comprising premium apartments and commercial service shops at the podium. Design and construction are scheduled for 2026 to 2027.

The table below summarises the official key technical specifications of the CR5-2 development, enabling buyers and investors to make a quick comparison with other projects in the same segment:

The most important point to note when researching the CR5-2 development is the clear distinction between the legal name “Lot CR5-2” and the commercial name to be announced later. Many investors may confuse CR5-2 with CR5-1B (The Regency), as both belong to the CR5 cluster in The Crescent area. Specifically, CR5-1B is a separate land parcel occupied by The Regency, which launched in November 2025 with 24 floors and 114 exclusively residential luxury apartments, whereas CR5-2 is the neighbouring parcel, comprising 18 floors and a mixed-use model with commercial space at the podium. The 2 developments are completely independent in terms of legal status and product positioning.

The CR5-2 model of “apartments combined with bustling commercial service shops at the podium” is an important differentiating feature compared with the exclusively residential The Regency. The commercial podium on the ground and lower floors will create a diverse service ecosystem serving residents of the building and visitors from Crescent Lake, including F&B outlets, personal-care services, offices, convenience stores and other premium businesses suited to the area’s distinguished community.

Who Is Handel Architects LLP, the Design Firm for the CR5-2 Development?

Handel Architects LLP is a leading American architecture firm headquartered in New York, renowned for world-class residential and commercial projects. It also designed both The Regency (CR5-1B) and Triton Crown (CR9) for Phú Mỹ Hưng.

Handel Architects LLP has developed a lasting partnership with Phu My Hung Development Corporation during the 2.0 phase, becoming the lead architectural firm for the entire luxury-project cluster in the Crescent Lake area. Specifically, all 3 of Phú Mỹ Hưng’s key developments in the area during the 2025 to 2027 period bear Handel Architects’ design signature:

• The Regency (CR5-1B): A 24-storey luxury apartment development with 114 units and a “Waterfront living” architectural style; launched and sold out in November 2025
• Triton Crown (CR9): An 18-storey stepped premium apartment development with 231 apartments and 42 shophouses; construction began in May 2026
• CR5-2 development: An 18-storey mixed-use premium apartment development with a total gross floor area of 21,519m²; in the 2026 design stage

The strategic significance of using the same international Grade A architect for the entire Crescent Lake cluster is to create consistent aesthetics and architecture throughout. When all three developments are designed by the same studio, they form an “architectural trio” with a unified yet not entirely identical design language, raising the identity of the whole Crescent Lake area to a level comparable with world-class waterfront districts in Singapore and Hong Kong. This is a rare strategy in urban planning in Vietnam that Phu My Hung Development Corporation is pioneering in phase 2.0.

Where Is Lot CR5-2 Located in Phú Mỹ Hưng’s The Crescent Area?

Lot CR5-2 is located in The Crescent area (Crescent Lake), Tân Mỹ Ward, District 7. It is one of 9 land parcels, CR1 to CR9, arranged in an arc along the lake, with a total area of 200,000m² across the whole area. It directly adjoins lot CR5-1B (The Regency) and is within walking distance of Starlight Bridge, Crescent Mall and Moonlight Park.

CR5-2’s position within The Crescent area is particularly significant because Phu My Hung Development Corporation has positioned the entire Crescent area as the “Social Heart Community”, or the heart of the urban area’s community, where the cultural, entertainment and premium commercial activities of more than 60,000 residents and millions of visitors each year are concentrated. More specifically, CR5-2 benefits from the entire completed and continually upgraded amenity ecosystem of Crescent Lake, without having to wait for infrastructure development as projects in newer areas do.

Which Developments Adjoin Lot CR5-2 in The Crescent Area?

Lot CR5-2 directly adjoins lot CR5-1B (The Regency) in the CR5 cluster. It forms part of the sequence of 9 lots, CR1 to CR9, arranged in an arc, surrounded by Crescent Lake’s complete amenity ecosystem within a 400m walking radius.

The table below summarises the locations and statuses of the land parcels in The Crescent area, helping readers clearly understand where CR5-2 sits within the overall planning scheme:

In addition, within direct walking distance of lot CR5-2, future residents will be able to access Phú Mỹ Hưng’s entire range of leading external amenities:

• Starlight Bridge and Moonlight Park: Crescent Lake’s iconic romantic meeting spot and community leisure destination, less than a 5-minute walk from CR5-2
• Crescent Mall: A premium shopping centre with more than 150 brands, cinemas, restaurants and an entertainment area, located within the same The Crescent complex
• FV and Tam Anh Hospitals: Two leading international healthcare facilities in Ho Chi Minh City within a 1 km radius
• SECC (Saigon Exhibition and Convention Centre): The largest corporate events hub in the southern region
• SSIS, Canadian, Japanese, Korean and RMIT international school system: Serving the multinational resident community, which accounts for 30% of Phú Mỹ Hưng’s population

What Makes the CR5-2 Plot’s Location in the Crescent Lake Area Stand Out?

The CR5-2 plot stands out for 3 reasons: it is located in Phú Mỹ Hưng’s “Social Heart Community”, master-planned by Skidmore, Owings & Merrill (USA); it lies within Ho Chi Minh City’s 2nd CBD; and it occupies a rare lakeside position among the remaining land plots at The Crescent.

The Crescent Lake area is positioned as the “Social Heart” of the entire Phú Mỹ Hưng urban area, not only geographically but also in terms of its community function. It hosts the urban area’s largest cultural events, such as the Phú Mỹ Hưng Spring Flower Festival, Countdown Party, annual music festivals and art exhibitions, attracting tens of thousands of attendees on each occasion. More importantly, The Crescent Lake area, together with the International Commercial and Financial District and the Healthcare and Nursing District, forms Phú Mỹ Hưng’s CBD, namely Ho Chi Minh City’s 2nd Central Business District after District 1 CBD. CR5-2’s position at the heart of this CBD anchors its property value to a strong economic foundation, rather than to a single project. Scarcity is the most crucial factor when assessing CR5-2’s location: of the 9 plots at The Crescent, most have already been filled by completed or ongoing developments, making CR5-2 one of the very few remaining plots not yet associated with a specific commercial name and creating an opportunity to own a central location without buying from the secondary market.

What Is the Progress of the CR5-2 Phú Mỹ Hưng Project in 2026?

The CR5-2 project is currently in the design and construction preparation phase, according to a schedule running from 2026 to 2027. It does not yet have an official commercial name, has not been launched for sale and remains at the earliest stage of its development cycle, creating an opportunity to express interest before the market fully recognises the project.

Specifically, this is a “pre-launch” status similar to The Regency’s phase before November 2025, when early interested investors had the advantage of choosing the best units and receiving the developer’s most favourable incentives before the official launch.

The table below summarises the expected CR5-2 project timeline by key milestones, helping investors identify the appropriate time to monitor and act:

Furthermore, the reason the current phase is a strategic time to express early interest can be learned directly from the precedent of The Regency on the adjacent CR5-1B plot. The Regency officially launched in November 2025 and sold all 114 units in the same month, at prices from VND 190 million to VND 262 million/m². Investors who expressed interest and registered before the launch phase were given priority in choosing the best apartments with direct lake views and the best prices in the 1st phase. A similar situation could entirely recur with CR5-2, particularly as the project inherits the full architectural brand of Handel Architects, the CR5 cluster’s market-validated location and the continuing demand for luxury apartments at The Crescent Lake, which far exceeds supply.

How Does the CR5-2 Phú Mỹ Hưng Project Differ from The Regency at CR5-1B?

CR5-2 is superior in terms of its overall gross floor area and mixed-use model with commercial space in the podium, while The Regency (CR5-1B) leads in absolute scarcity, with just 114 purely residential luxury units, all of which have sold out.

The 2 projects in the CR5 cluster complement each other rather than competing directly. In contrast to The Regency, positioned around “absolute scarcity and pure elite residential living” with a strictly limited number of units, CR5-2 is aimed at a “premium apartment and commercial combination” model, opening up a broader customer base that includes investors seeking to operate commercial premises in the podium. These are 2 different product strategies from the same developer, serving 2 different groups of needs in the same prime location.

Why Do CR5-2 and CR5-1B Both Use Handel Architects LLP?

Both CR5-1B (The Regency) and CR5-2 use Handel Architects LLP because Phú Mỹ Hưng Development Corporation applies a coordinated design strategy across the entire The Crescent Lake cluster, using the same leading international architect to create a consistent aesthetic identity and elevate the area’s value to international waterfront urban development standards.

This strategy is similar to the way high-end urban developments in Singapore and Hong Kong operate: one lead architect oversees the entire development cluster, creating harmony in architectural language while retaining diversity in scale and function. As a result, future residents of CR5-2 will live in a consistent, deliberately designed architectural environment rather than an arbitrary collection of different styles.

Can Foreigners Buy the CR5-2 Phú Mỹ Hưng Project?

Yes, foreigners are permitted to buy units in the CR5-2 Phú Mỹ Hưng project under Ho Chi Minh City’s March 2026 decision adding commercial housing projects permitted to be sold to foreigners, in which CR5-2 is listed alongside CR5-1B, C12B-2 and C17-2 in the southern Saigon area.

Ownership applies under current law: Vietnamese citizens have long-term ownership, while foreigners have 50-year ownership with the possibility of extension. The addition of CR5-2 to the list permitting foreign purchases is a positive signal, significantly expanding the potential customer base to include the international professional community living and working in Phú Mỹ Hưng, which currently accounts for approximately 30% of total residents, creating additional demand pressure in a market already facing limited supply at The Crescent.