Gamuda Land – Transforming Vietnam’s Real Estate Scene
27 Apr 2022 | Gamuda Berhad

Beyond engineering and construction, we have made our mark in the real estate scene globally through the Group’s property development arm, bringing communities together through holistic, mindful and sustainable master planning.

Progressing Vietnam

Celebrating close to three decades of developing and crafting sustainable townships that stand the test of time, Gamuda Land has paved the way toward sustainable developments built in Singapore, Australia, Vietnam, the United Kingdom and, of course, within our home country, Malaysia. The track record thus far – 11 townships, 11 vertical communities and a total land bank of 5,300 acres with notable developments, such as Gamuda Cove, twentyfive.7 and Gamuda Gardens in Malaysia, GEM Residences and Ola in Singapore, Celadon City and Gamuda City in Vietnam, 661 Chapel St. in Australia and Aldgate Residential and West Hampstead in the United Kingdom.

While we have set out property footprints globally, Vietnam has always been closer to our home market, the second-largest after Malaysia. Marking over a decade, we have invested USD 500 million to develop two key townships – the 274ha Gamuda City in Hanoi in 2007 and the 82ha Celadon City in Ho Chi Minh in 2010.

Gamuda City
Gamuda City

Developing these two prestigious projects has earned us a spot in the top five on the list of prominent foreign investors in Vietnam’s real estate circle.

“Gamuda Land has always looked into investing in real estate overseas, and we are proud of our successful ventures in Singapore, Australia, Vietnam and the United Kingdom. Currently, we are further deploying our expansion strategy into Vietnam as there is a high potential for real estate development here. Vietnam is experiencing one of the fastest-growing economies in the world and going through rapid urbanisation with comprehensive infrastructure development. Home prices here are considered very attractive and normally offer higher yields. All these aspects are a pull factor and tie in well with our business goals,” said Dennis Ng Teck Yow, General Director of Gamuda Land Vietnam.

Dennis Ng added that Vietnam is the perfect place because it shares many similarities with the early beginnings of Malaysia’s explosive property growth. It has a common ground that Gamuda Land can relate to, thrive on and help develop.

We’re paving the way for sustainable developments as a leading property developer. To do so, we develop based on our belief that the relationship between nature and humans can thrive. This is done by creating master-planned townships that are innovative, sustainable and inhabited by flourishing families, thriving communities and future generations to come.

Rehabilitation of Yen So Park
Rehabilitation of Yen So Park

An example would be our maiden urban regeneration township project at the 102ha Yen So Park. This turnaround story involved the transformation of one of Hanoi’s most polluted and inhospitable areas into a thriving green lung comprising recreational facilities, including a boathouse, and numerous garden pockets. This green lung that won us the World Gold Award for Environmental (Rehabilitation/Conservation) at the FIABCI World Prix d’ Excellence Award 2018 surrounds another award-winning development of ours, the Gamuda City.

However, this was no easy task. It involved a large amount of expertise from the Group’s infrastructure construction knowledge, working alongside the Hanoi’s People Committee to design, construct, test and commission work of Yen So Sewage Treatment Plant to rejuvenate Yen So Park.

Now, Yen So Park is clean, odourless and filled with greens, further enhancing the quality of life in Southern Hanoi. The rejuvenation exercise also repositioned South Hanoi as an attraction hotspot for locals and foreigners alike. It has also helped clear Hanoi’s waterways of contamination as the dirty lake was a growing concern for public health, and there was an urgent need for better water management practices. We transformed Gamuda City into a vibrant development, surrounded by greenery and a good mix of residential, commercial and recreational amenities.

Celadon City - Green Lung
Celadon City – Green Lung

As for Celadon City, also known as Ho Chi Minh’s diamond in the rough, we have uplifted the Tan Phu District into a mindfully planned integrated township equipped with residential education, culture, sports and commercial accessibilities – formerly derelict farmland with poorly utilised land that was occupied by squatters and lacked good infrastructure and amenities.

Testaments to Our Efforts and Plans Ahead

Early this year in March, the Minister of International Trade and Industry YB Dato’ Seri Mohamed Azmin Ali paid a visit to Vietnam, with Gamuda City being one of his pitstops. YB Dato’ Seri Azmin remarked Gamuda as the perfect example of a successful Malaysian grown business making a name for itself and the country in Vietnam.

Minister of International Trade and Industry YB Dato’ Seri Mohamed Azmin Ali (fourth from left) recent visit to Gamuda City
Minister of International Trade and Industry YB Dato’ Seri Mohamed Azmin Ali (fourth from left) recent visit to Gamuda City

The Group’s contributions to Vietnam have helped set the stage for both countries to strengthen bilateral ties further.

“We are extremely honoured by the visit from our Minister of International Trade and Industry. The Minister’s vote of confidence will pave the way for many more Malaysian businesses to invest in Vietnam, especially after seeing Gamuda’s success here,” said Ng.

Forging ahead, Gamuda Land plans to open more chapters in its Vietnam development project book by injecting more funds into the country to strengthen its position as the leading township developer.

“The Gamuda Land’s headquarters have approved long-term investment for Vietnam, and we are ready to inject a huge allocation to acquire new land to develop more masterplanned sustainable townships that bring communities to life. With the robust economic scene and rapid urbanisation, more real estate developers in Malaysia will be interested in the Vietnamese market and will follow in our footsteps in investing here,” said Cheong Ho Kuan, Advisor of Gamuda Land Vietnam.

He added that Gamuda Land Vietnam’s next project would be in the southern province of Binh Duong, with favourable opportunities in surrounding locations of Ho Chi Minh City – Long An, and Dong Nai provinces. Not forgetting Hung Yen province further up north.

Recognised and Awarded

We’ve stayed true to our town-making principles, one of them being “listening to what the land has to tell us”. It is our pride and joy to be able to work closely with nature to restore and rejuvenate the land. When accomplished, we’re able to bring our vision of sustainable living to life for our communities.

The awards we’ve received are a testament to our beliefs. Recently, Gamuda Land Vietnam was recognised as one of the Top 10 leading sustainable overseas developers in Vietnam at the 21st Golden Dragon Awards (2001-2022). Last year, Gamuda Land was also honoured as the Best Lifestyle Developer at the Vietnam Property Awards 2021. While in 2020, we bagged eight awards by PropertyGuru Vietnam Property Awards 2020. Among them are Best Developer, Best Masterplan Design, Best High-End Condo Landscape Architectural Design (Diamond Centery), Best Sporting Facility and Special Recognition in Sustainable Design. We also won the World Silver Award in the Master Planning Category for Celadon City at the FIABCI World Prix d’Excellence 2019 and 2020 respectively for Gamuda City.