Gamuda Land starts construction of Eaton Park

March 28, 2024 | 16:40
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Gamuda Land, the investor from Malaysia, and its constructor partner Unicons started construction of the towers A5, A6, phase 1 of Eaton Park on March 26, marking the next important milestone in the construction process.
Gamuda Land starts construction of Eaton Park
Gamuda Land started construction of phase 1 of Eaton Park.

This project is the latest development by this foreign real estate developer in Ho Chi Minh City.

The event was held at the project premises on Mai Chi Tho boulevard, An Phu ward, Thu Duc city, Ho Chi Minh City, with the participation of the developer's staff, with representatives from business partners, consultants, constructors, and local authorities.

Giving a speech at the ceremony, Teoh Chin Siang, general director of Gamuda Land (HCMC), said that the preparation and commencement of ground works had taken place back in December last year.

After three months, Eaton Park has started making its shape on ground as what we can observe today with exceptionally fast construction progress. With the full passion and contribution from our workforce and construction round the clock, we are confident that Eaton Park would soon be completed in accordance with the commitment to customers, and make its skyline standing firm in very near future from now.

The general constructor assigned to undertake this package is Unicons, one of the largest construction firms in the country, which has been participating in the development process of many prominent large-scale projects such as The Landmark 81, Vinhomes Central Park, and Midori Park.

It is known that each component package of Eaton Park must go through an extremely rigid evaluation and bidding process among the leading general constructors in Vietnam, under the control of Gamuda Land headquarter from Malaysia.

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 currently.

It is situated right in front of Mai Chi Tho street, only 15 minutes by car from the centre 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 is more than $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.

With a height of 39 floors, once completed, the project will stand as a towering landmark in the eastern skyline of Ho Chi Minh City.

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 an upscale lifestyle and a comprehensive, rich, and exciting life, according to the developer.

Although not yet officially open for sale, Eaton Park has caused a stir throughout the Southern real estate market, attracting a lot of attention from home buyers and investors.

It is the only project on the "golden land" axis at the Eastern gateway to the central business district of Ho Chi Minh City having good legal status being launched at the present.

Gamuda Land is one of the most 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, the developer boldly spent nearly VND8.6 trillion in initial investment capital for the 292-ha Gamuda City urban area in Hoang Mai district, Hanoi, and VND3.6 trillion for Celadon City, which is 82ha wide in Tan Phu district, Ho Chi Minh City.

To date, these two projects have become the most prominent model international green urban areas in these two markets.

Following those successes, Gamuda Land 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 town house project in Binh Duong New City from TDC.

This deal is worth up to $54 million. Next, Gamuda Land merged with a domestic company to own the Elysian high-end apartment complex project with an estimated GDV of over $250 million in Thu Duc of Ho Chi Minh City.

Eaton Park is the third project in a row within two years with land transfer costs alone reaching $315.8 million.

Gamuda Land starts construction of Eaton Park
Covering a total land area of 3.77ha, Eaton Park is planned with six towers ranging from 29 to 39 floors high
Gamuda Land starts construction of high-end flagship Eaton Park Gamuda Land starts construction of high-end flagship Eaton Park

On December 8, Gamuda Land, the property arm of Malaysia’s Gamuda Berhad, organised the ground-breaking ceremony for Eaton Park, its first high-end flagship in the east of Ho Chi Minh City.

Gamuda Land signs strategic cooperation agreements for Eaton Park project Gamuda Land signs strategic cooperation agreements for Eaton Park project

On January 11, Gamuda Land (Ho Chi Minh City), the investor of the Eaton Park project, signed 17 strategic distribution agreements.

2,700 participate in Eaton Park launch ceremony 2,700 participate in Eaton Park launch ceremony

Malaysian real estate group Gamuda Land held a kick-off ceremony for its Eaton Park project on March 15.

By Bich Ngoc

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