Gamuda to develop new housing project in Thủ Đức City

May 23, 2024 - 08:43
Malaysian property developer Gamuda Land recently announced its new high-end apartment project named Eaton Park in Thủ Đức City of HCM City.
The Eaton Park Project in HCM City. The project covers an area of approximately 3.77 hectares and will have about 2,000 units. – Photo Courtesy Gamuda Land

HCM CITY – Malaysian property developer Gamuda Land recently announced its new high-end apartment project named Eaton Park in Thủ Đức City of HCM City.

The project, which commenced its underground phase 1 construction on March 26, 2024, will cover an area of approximately 3.77 hectares and have about 2,000 units.

Located in Thủ Đức City, the project is on the "golden land" axis near An Phú intersection, the eastern gateway to the centre of HCM City, with complete legal status at the present time.

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

Spanning across a total land area of 3.77 hectares, Eaton Park is planned with six high-rise towers ranging from 29 to 39 floors, offering 2,052 units to the market, including 1,968 high-end apartments with one to three bedrooms, 12 penthouses, 52 commercial units at the podium level, and 21 shophouses, with an estimated gross development value of over US$1.1 billion.

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.

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 boldly allocated nearly VNĐ8.6 trillion ($338 million) for the initial investment capital for Gamuda City, a 292-hectare urban area in Hoàng Mai District, Hà Nội, and VNĐ3.6 trillion ($114 million) for Celadon City, spanning 82 hectares in Tân Phú District, HCM City. To date, 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 Việt Nam with impressive moves in recent times. Specifically, in 2022 alone, Gamuda Land successfully completed two significant M&A deals, causing a stir across the southern market.

And Eaton Park marks the third consecutive deal within two years, with the land transfer costs alone reaching $315.8 million. -- VNS