built with conviction
built with conviction
Behind this project is a partnership
shaped by experience, discipline,
and long-term thinking.
Behind this project is
a partnership shaped by
experience, discipline,
and long-term thinking.
The developers are not driven by volume or visibility, but by a belief that places of lasting value are created through clarity of intent, respect for craft, and a deep understanding of how people live.
This is a collaboration between entrepreneurial leadership and institutional rigour — bringing together local insight, international standards, and a shared commitment to build something meaningful, not momentary.
AppleTree Group
Entrepreneurial vision
with a human lens
Founded in Vietnam in 1993, AppleTree Group is a diversified investment and development company with activities across hospitality, tourism, real estate, retail, and food distribution. Headquartered in Ho Chi Minh City, the group has played a key role in shaping premium, experience-led businesses across Southeast Asia.
Its portfolio includes landmark hospitality projects such as Press Club Hanoi, La Résidence Hotel & Spa, Emeraude Cruises, and Villa Maly in Luang Prabang. AppleTree is also behind EXO Travel and The Annam Group, reinforcing its strong regional footprint. The group is defined by its long-term approach, focus on quality, and commitment to creating distinctive, culturally rooted experiences.
Eric Merlin is a French entrepreneur and co-founder of AppleTree Group, established in Vietnam in 1993. He is widely recognised for pioneering tourism and hospitality ventures in Southeast Asia during the early stages of the region’s international development.
Jean-Marc Merlin is the co-founder and chairman of AppleTree Group, where he oversees the company’s long-term strategic direction and investment growth. Since the early 1990s, he has guided the group’s evolution into a diversified platform across multiple sectors.
Larfa Properties
Institutional strength
and long-term stewardship
Institutional strength and long-term stewardship
Larfa Properties is a privately owned real estate investment and development firm focused on the acquisition, development, and long-term ownership of high-quality assets. The company specialises in hospitality, residential, and mixed-use projects with strong architectural identity and enduring value. With a portfolio spanning Europe and Asia, Larfa has developed projects ranging from hotels and entertainment complexes to large-scale urban redevelopment initiatives.
Notable work includes heritage transformations in Lisbon and asset ownership in Switzerland. Larfa’s approach centres on architectural integrity, distinctive locations, and careful long-term stewardship, ensuring each project maintains both cultural and investment value over time.
Johannes Tryba is a German entrepreneur and master carpenter who founded TRYBA in 1980 in Alsace, France. Through early investment in industrial production and a strong distribution network, TRYBA expanded rapidly across France and Europe, becoming a major player in the building materials sector.
Stéphane Delplancq is the Chief Executive Officer of Larfa Properties, leading the company’s investment strategy and international development portfolio. He brings extensive experience in private equity, real estate investment, and asset management across Europe.
