Ho Chi Minh City, March 15, 2024 – Gamuda Land, the reputable developer from Malaysia, has just held an extremely bustling kick-off ceremony for the Eaton Park project with 24 distribution agents, officially setting the beginning for the launch of the latest “masterpiece” of this big foreign real estate developer to the Vietnamese market.
The event was solemnly held at the largest convention hall of Thu Duc City in Sala urban area, with nearly 2,700 attendees including the developer’s staff and sales specialists from the market’s leading real estate distributors from North to South.
Speaking at the ceremony, Mr. Gim Teck Yew, Head of Sales & Marketing of Gamuda Land (HCMC), said: “Eaton Park is Gamuda Land’s key high-end project in the east of Ho Chi Minh City. As part of our QTP (Quick Turnaround Project) project development strategy to expand business scale in Vietnam, Eaton Park is developed with the goal of becoming a new standard home model for a community of elite, modern residents who are looking for an ideal place to live in harmony with nature, balancing body and mind while still possessing an upper-class temperament.”
During the event, in addition to introducing details of the project, Gamuda Land also announced a pre-designed sales policy for Eaton Park before the opening date. Accordingly, customers only need to spend 5% of the apartment value to sign a sales contract. With an extremely excellent payment schedule of up to 5 years, in the first 3 years, customers only need to pay a total of 30% divided into 6 installments until receiving notice of home handover. When receiving the house, the new customer must pay an additional 35%, and the remaining cost is divided into 2 installments, each installment of 15% for the next year.
According to many agents attending the ceremony, this is considered one of the most attractive sales policies in the southern real estate market today. Currently, this is only a preliminary policy on the payment schedule and does not include the preferential discount rate that the investor offers to customers who order early, which will be announced on the opening day. As usual, this ratio of Gamuda Land is usually not less than 5%. Eaton Park also benefits from scarcity, as it is the only high-end project at the Eastern gateway to the city center launched at the present time.
Located in the central area of former District 2 of Thu Duc City, this is one of the projects with the most prime locations in the real estate market in Ho Chi Minh City today. It is situated right in front of Mai Chi Tho Street, only 15 minutes by car from the center of District 1. Covering a total land area of 3.77 hectares, the project is planned with 6 towers ranging from 29 to 39 floors high. It will provide 2,052 products to the market, including 1,968 luxury apartments with 1 to 3 bedrooms, 12 penthouse apartments, 52 podium service stores, and 21 shophouses. The estimated total development value (GDV) is more than US$1.1 billion.
Besides its “golden location,” Eaton Park boasts an architectural design inspired by the rhythmic movement of rolling waves and the sculptural language of geological formations. Its noble and elegant appearance will bring pride and honour to its deserving homeowners. With a height of up to 39 floors, once completed, the project will stand as a towering landmark in the eastern skyline of Ho Chi Minh City. It is a home that homeowners can be proud of which is able to be seen from above with the naked eyes.
With enthusiasm and attention to every detail in the master plan, Eaton Park is expected to establish a new standard of urban life. It will bring not only an upscale lifestyle but also a comprehensive, rich, and exciting life, according to the developer.
Gamuda Land is one of the prominent foreign investors that has been present in the Vietnamese real estate market for a long time, through many ups and downs. When entering the market in 2007, this developer boldly spent nearly VND8,600 billion in initial investment capital on the 292-hectare Gamuda City urban area in Hoang Mai District, Hanoi, and VND3,600 billion on Celadon City, which covers 82 hectares in Tan Phu District, Ho Chi Minh City. To date, these two projects have become one of the most prominent model international green urban areas in these two markets.
Following those successes, Malaysia’s leading real estate enterprise is showing strong ambition to enhance its position in Vietnam with impressive moves in recent times. Specifically, in 2022 alone, Gamuda Land successfully carried out two large-scale M&A deals in a row, causing a stir throughout the southern market. The first is the acquisition of the Artisan Park commercial townhouse project in Binh Duong New City from TDC. This deal is worth up to US$54 million, among the Top 10 most typical M&A deals of the year. Next, Gamuda Land merged with a domestic company to own the Elysian high-end apartment complex project with an estimated GDV of over US$250 million in Thu Duc City, Ho Chi Minh City.
Eaton Park is the third project in a row within 2 years, with land transfer costs alone reaching US$315.8 million (approximately VND7,200 billion). It is known that the condition to convince this famous foreign developer to invest money is, on the one hand, the strategic location of the land, and on the other hand, legally, this project has obtained all necessary licenses to start construction immediately.
In addition to impressive progress in the marketplace, Gamuda Land has also emerged in recent years as one of the pioneering real estate businesses that comply with Environmental, Social, and Governance (ESG) principles. This orientation is concretized by applying the Biophilic architectural design method to the project, aiming to create residential communities living in harmony with nature. At the same time, to pursue sustainable development, Gamuda Land has established and committed to effectively implementing the Gamuda Green Plan, a comprehensive framework with tangible, measurable goals, oriented towards the ESG aspects set for the next 5 years, with an extended vision to 2030 and beyond. Some goals shared by the investor include a plan to reduce direct and indirect greenhouse gas emissions from its operations by 30% by 2025 and 45% by 2030.
