Gamuda Land plans to expand investment in VN
Gamuda Land plans to expand investment in VN
Gamuda Land, one of Malaysia’s leading property developers, plans to expand investment in Viet Nam, particularly in Ha Noi and HCM City.
“We are exploring new landbank in Viet Nam and some of the areas that Gamuda Land is considering is in the north of HCM City in Go Vap District and District 12, as well as District 9 in the south of the city,” the company’s Chief Operating Officer, Ngan Chee Meng, said.
Viet Nam was an investment destination for Gamuda Land’s first overseas project.
In 2007, the company decided to develop Gamuda City, a high-end real estate project comprising residential homes and a bustling business and commercial hub built around Yen So Park in Ha Noi. The project is divided into three precincts: the underway Gamuda Gardens, Gamuda City Central and Gamuda Lakes.
The company’s second project in the country is the ongoing Celadon City, which covers 82-ha in HCM City.
“When we first ventured into Viet Nam in 2007, township development was a new concept in the country as property developments in those days were on a smaller scale. The legal framework for larger scale projects such as Gamuda City was still work-in-progress so implementation was a slow process for us as we continuously work with the government through constructive feedback to enhance the framework. Today, the market is much more stable with the State’s monetary policies,” Ngan said.
According to Ngan, the high rate of urbanisation and the increased population allow his company to venture into new areas that have never been entered into previously by other developers, creating opportunities for new projects.
At the same time, the company also has an option to invest in developments that have been delayed by other underqualified developers, with the support and encouragement from local government, he said.
He further added that the company goal is to have a lasting presence in Viet Nam, to contribute to the company’s development, and to grow alongside the community.
“In the short run, we strive to become one of leading developers in Viet Nam,” he said, adding that his company also wants to further solidify its reputation as a ‘town-maker’ that creates places people will call home, be a part of, as well as where they will grow up and grow old.
Besides the business expansion, Gamuda Land has also joined many social activities.
Since 2013, the company has joined hands with Heart Beat Vietnam Fund to organise a charity run to raise funds for Vietnamese children with heart disease. After four years, the run has raised VND7.9 billion (US$350,000), helping 338 young hearts.
This year’s events will return to Ha Noi’s Yen So Park on December 3, and it is expected to attract more than 10,000 people.
