KUALA LUMPUR: Gamuda Land's Eaton Park development in Vietnam has surpassed a gross development value (GDV) of RM2 billion in just eight months since its launch.
The company said Phase 1, which was launched in May, sold out in two days. Phase 2 was launched in December and saw bookings six times higher than the available units.
"The rapid take-up of Eaton Park's units shows the trust homeowners and investors have in our developments," Gamuda Land chief executive officer Chu Wai Lune said in a statement today.
"Achieving RM2 billion GDV in less than 10 months reflects both the market's confidence in our vision and the strength of Vietnam's economy, which is projected to grow by 6.5 per cent to 7.0 per cent in GDP, the highest in Asean, and see a 13 per cent rise in foreign direct investment in 2024.
"This success also shows the effectiveness of Gamuda Land's Quick Turnaround Project (QTP) strategy."
Chu added that by investing in high-demand projects with a clear exit plan within three to five years, Gamuda Land has sped up its return-on-investment cycle, cutting it in half compared to the traditional township model approach.
Located just 6.5 kilometres from the central business district, Eaton Park spans 3.68 hectares and is the most centrally located development site amongst Gamuda Land's portfolio of six projects in Ho Chi Minh City.
Eaton Park benefits from significant infrastructure investments and urban expansion, including the soon to be operational Metro Line No. 1, situated adjacent to the development.
With expansive windows, large balconies, and ceiling heights of up to 3.5 metres, the apartments offer breathtaking views of the city skyline and surrounding greenery.
Over 60 per cent of the development is dedicated to green spaces and community amenities, ensuring a harmonious living environment.
The development has earned EDGE green building certifications from the International Finance Corporation (IFC), meeting global environmental efficiency standards.
Following the success of Eaton Park, Gamuda Land is building on its momentum with other high-profile developments.
The Meadow, located in Binh Chanh District, has already launched, with the first phase fully sold out.
The second phase is set to launch in January.
Additionally, Springville, strategically positioned near the upcoming Long Thanh International Airport, is slated for launch in 2025.
"Vietnam remains central to our regional strategy, driving 60 per cent of our overseas sales. With a robust pipeline of developments, including five ongoing QTP projects in Ho Chi Minh City, we are committed to delivering value-driven, sustainable communities," said Chu.
Gamuda Land's regional expansion plans include an investment of RM7.1 billion over the next five years, targeting a total GDV of RM19 billion.
The company aims to achieve 40 per cent of its global sales from Malaysia, 45 per cent from Vietnam, and 15 per cent from other markets such as the United Kingdom and Australia.