Gamuda Land's Vietnam residential project, Eaton Park development in Thu Duc City, Ho Chi Minh City in just eight months has surpassed a Gross Development Value (GDV) of RM2 billion.

Phase 1, launched in May, sold out in just two days. Following this success, Phase 2 was launched in December, with bookings six times higher than the available units, showing strong confidence in Gamuda Land's vision and execution.

"The rapid take-up of Eaton Park's units shows the trust homeowners and investors have in our developments," said Chu Wai Lune, Chief Executive Officer of Gamuda Land. "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% to 7% in GDP, the highest in ASEAN, and see a 13% rise in FDI in 2024."

"This success also shows the effectiveness of Gamuda Land's Quick Turnaround Project (QTP) strategy. By investing in high-demand projects with a clear exit plan within 3 to 5 years, we've sped up our return-on-investment cycle, cutting it in half compared to the traditional township model approach. This strategy helps us provide strong value to the market while ensuring sustainable growth across our portfolio."

Located just 6.5 kilometres from the central business district, Eaton Park spans 9.1 acres 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.

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 this coming January. Additionally, Springville, strategically positioned near the upcoming Long Thanh International Airport, is slated for launch in 2025. These projects underscore Gamuda Land's ability to identify and cater to high-demand markets effectively.

Looking ahead, 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% of its global sales from Malaysia, 45% from Vietnam, and 15% from other markets such as the UK and Australia.