Malaysia's Gamuda develops new housing project in HCMC
Malaysian property developer Gamuda Land recently announced a new high-end apartment project named Eaton Park in Thu Duc city, Ho Chi Minh City.
The project, which commenced its underground phase 1 construction on March 24, will cover an area of approximately 3.77 hectares and have over 2,000 units.
The Eaton Park project in Ho Chi Minh City, southern Vietnam. Photo courtesy of Gamuda Land.
Located in Thu Duc city, the project is on the "golden land" axis near An Phu intersection, the eastern gateway to the center of HCMC, with complete legal status.
Eaton Park is within a few minutes of 12 international schools, and 3 km from shopping centers and an international hospital.
When completed, Eaton Park will have six high-rise towers ranging from 29 to 39 floors, offering 1,968 high-end apartments with one to three bedrooms, 12 penthouses, 52 commercial units at podium level, and 21 shophouses, with an estimated gross development value of over $1.1 billion.
With meticulous attention to detail, Eaton Park is expected to set a new standard for urban living, offering not only a luxurious lifestyle, but also a comprehensive, vibrant, and fulfilling life.
Gamuda Land is a prominent foreign investor that has been present in the Vietnamese real estate market for many years. Upon entering the market in 2007, the investor allocated nearly VND8.6 trillion ($338 million) for its initial investment capital in Gamuda City, a 292-hectare urban area in Hoang Mai district, Hanoi, and VND3.6 trillion ($114 million) for Celadon City, spanning 82 hectares in Tan Phu district, HCMC.
These two projects have become the most outstanding international green urban areas in their respective markets.
Following these successes, Malaysia's leading real estate enterprise is demonstrating strong ambitions to enhance its position in Vietnam with impressive moves in recent times. In 2022 alone, Gamuda Land successfully completed two significant M&A deals, causing a stir across the southern market.
Eaton Park marks the third consecutive deal within two years, with the land transfer costs alone reaching $315.8 million.
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