2,700 participate in Eaton Park launch ceremony

March 18, 2024 | 15:47
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Malaysian real estate group Gamuda Land held a kick-off ceremony for its Eaton Park project on March 15.

The event was held in Thu Duc of Ho Chi Minh City with with nearly 2,700 attendees, including the developer's staff and dozens of sales specialists from the country's top real estate distributors.

2,700 participate in Eaton Park launch ceremony

Gim Teck Yew, head of Sales and Marketing at Gamuda Land Ho Chi Minh City, said that Eaton Park is Gamuda Land's key high-end project in the east of Ho Chi Minh City.

“As part of our project development strategy to expand business scale in Vietnam, Eaton Park was 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 and balancing body and mind, while still possessing an upper-class temperament,” Yew said.

During the event, Gamuda Land announced a pre-designed sales policy for Eaton Park before the opening date.

Customers only need to spend 5 per cent of the apartment value to sign a sales contract. With a payment schedule of up to five years, in the first three years customers only need to pay 30 per cent in six instalments until receiving notice of home handover. When receiving the house, the new customer must pay an additional 35 per cent, and the remaining cost is divided into two instalments for the next year.

This is deemed 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. The ratio of Gamuda Land is usually no less than 5 per cent.

Located in the central area of Thu Duc, Eaton Park has a prime spot in the real estate market of Ho Chi Minh City.

Covering nearly 3.8 hectares, the project is planned with six towers ranging from 29 to 39 floors high. It will provide just over 2,000 products, with the vast majority being luxury apartments with 1-3 bedrooms. There will also be 12 penthouse apartments, 52 podium service stores, and 21 shophouses.

The estimated total development value is more than $1.1 billion.

2,700 participate in Eaton Park launch ceremony

Eaton Park boasts an architectural design inspired by the rhythmic movement of rolling waves and the sculptural language of geological formations. With enthusiasm and attention to every detail in the master plan, Eaton Park is expected to establish a new standard of urban life and will bring not only an upscale lifestyle but also a comprehensive, rich, and exciting life, according to the developer.

Since entering Vietnam in 2007, Gamuda Land has spent trillions of VND on both its Gamuda City urban area in Hanoi and Celadon City in Ho Chi Minh City. Following those successes, the Malaysian enterprise is showing ambition to enhance its position in Vietnam.

In 2022, Gamuda Land successfully carried out two large-scale merger and acquisition deals. It first took over the Artisan Park commercial townhouse project in Binh Duong New City in a deal worth up to $54 million. It also merged with a domestic company to own the Elysian high-end apartment complex with an estimated gross development value of over $250 million in Ho Chi Minh City.

Eaton Park is its third project in a short space of time, with land transfer costs alone reaching $315.8 million. It has already obtained all the necessary licences to start construction immediately.

Gamuda Land has also emerged in recent years as one of a pioneer in real estate in terms of complying with environmental, social, and governance (ESG) principles. This orientation is concretised by applying the biophilic architectural design method to the project, aiming to create residential communities living in harmony with nature.

At the same time, the company has established and committed to effectively implementing its Gamuda Green Plan, a comprehensive framework with tangible, measurable goals, oriented towards the ESG aspects set for the next five years, with an extended vision to 2030 and beyond.

Significant goals include a plan to reduce direct and indirect greenhouse gas emissions from its operations by 30 per cent by 2025 and 45 per cent by 2030.

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By Bich Ngoc

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