Gamuda Land launches Eaton Park

The high-end apartment project, covering almost 3.7 hectares, is situated in a prime location in Thu Duc of Ho Chi Minh City, and commenced its underground phase 1 construction in March.

Gamuda Land's Eaton Park project announcement ceremony on May 18, 2024. Photo courtesy of Gamuda Land

Golden location

Eaton Park is currently one of the prime projects in Ho Chi Minh City, sitting on the frontage of Mai Chi Tho Street, just a 15-minute drive from District 1.

This is one of a few projects on the "golden land" axis, near An Phu intersection and the eastern gateway to the center of Ho Chi Minh City.

From Eaton Park, it takes just a few minutes to travel to 12 international schools, and within a 3-kilometer radius there are shopping centers and an International General Hospital.

Eaton Park is planned to feature six high-rise towers ranging 29-39 floors, offering over 2,000 units to the market, including around 1,970 high-end apartments with 1-3 bedrooms, 12 penthouses, 52 commercial units at the podium level, and 21 shophouses, with an estimated gross development value of over $US1.1 billion.

In addition to its location, with architectural inspiration drawn from the rhythmic movements of overlapping waves and the sculptural language of geological formations, the sophisticated and elegant facade of Eaton Park is expected to bring prestigious pride to its esteemed residents.

With dedication and meticulous attention to every detail in the overall planning, 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.

Angus Liew Bing Fooi, Chairman of Gamuda Land Vietnam, said, "I am delighted to envision the future of Eaton Park, the flagship luxury development of Gamuda Land in Vietnam, which will have a huge impact on the urbanization of this city. I look forward to seeing Eaton Park flourish and thrive as a vibrant and connected community."

Angus Liew, Chairman of Gamuda Land Vietnam, speaks at the event on May 18, 2024. Photo courtesy of Gamuda Land

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 over VND8.5 trillion (US$333 million) for initial investment for Gamuda City, a 292-hectare urban area in Hoang Mai District of Hanoi; and VND3.6 trillion for Celadon City, spanning 82 hectares in Tan Phu District of HCMC.

Impressive breakthrough

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, Gamuda Land successfully completed two significant M&A deals.The first was the acquisition of Artisan Park commercial townhouse in the New City of Binh Duong from TDC.This acquisition amounted to $54 million, ranking among the top 10 most notable M&A transactions of the year.

Subsequently, Gamuda Land merged with a local company to acquire the Elysian high-end apartment complex project with an estimated gross development value of over $250 million in Thu Duc.

Eaton Park marks the third consecutive deal within two years, with the land transfer costs alone reaching $315.8 million.The project has obtained all necessary permits, enabling it to be ready for immediate construction commencement.

Eaton Park has a strategic location and an impressive masterplan. Photo courtesy of Gamuda Land

In addition to its strides in the market, in recent years, Gamuda Land has emerged as a pioneering real estate enterprise adhering to environmental, social, and governance (ESG) principles.This orientation is specifically manifested through the application of biophilic architectural design methods in projects, aiming to create residential communities harmonizing with nature.

Concurrently, to pursue sustainable development, Gamuda Land has established and committed to effectively implementing the Gamuda Green Plan, a comprehensive framework with measurable, tangible goals guided by ESG aspects set for the next five years, with a vision extending to 2030 and beyond.

Some goals shared by the investor include plans to reduce direct and indirect greenhouse gas emissions from its operations by 30% by next year and 45% by 2030.

Gamuda Land, established in 1995, is Malaysia's real estate development arm.It has created 11 townships and 13 integrated high-rise developments in Malaysia, Singapore, Vietnam, Australia, and the UK.

The company entered the Vietnamese market in 2007 and is currently involved in Gamuda City, Celadon City, Artisan Park, Elysian, and Eaton Park.