Gamuda Land to expand bussiness in Vietnam

In a meeting with Prime Minister Pham Minh Chinh on May 25 in Kuala Lumpur, part of the Vietnamese delegation’s official visit to Malaysia from May 24-28, Dato' Chow Chee Wah, chairman of Gamuda Land, expressed the company's desire to expand its investment and business operations in Vietnam.

PM Chinh praised Gamuda Land for its significant contributions to Vietnam’s urban infrastructure development and welcomed the group’s plans to further expand its investment in the country.

He encouraged Gamuda Land to pursue new business models and investment areas, and to play an active role in the development of smart cities. He also called on the company to share its experience in managing and operating smart urban areas with Vietnamese government agencies and enterprises.

"The Vietnamese government will create favourable conditions, in accordance with legal regulations, to support Gamuda land and other Malaysian investors in operating effectively and sustainably in Vietnam," the PM affirmed.

In March, Angus Liew, chairman of Gamuda Land Vietnam, said that over the next five years, Gamuda Land plans to invest $2.4 billion globally, aiming for a balanced sales contribution of 40 per cent from Malaysia, 45 per cent from Vietnam and 15 per cent from the United Kingdom, Australia, and other markets by 2030.

Capitalising on Vietnam’s strong economic growth, the company has earmarked an additional $1.6 billion for further developments in the country over the next five years.

This brings Gamuda Land’s cumulative investment in Vietnam to $4.2 billion, covering both property and infrastructure development. The company also anticipates that Vietnam will account for 60 per cent of its international sales (excluding Malaysia) during this period.

“We are optimistic about Vietnam’s potential and remain dedicated to delivering long-term value in its flourishing real estate landscape,” said Liew.

In another meeting with Ho Chi Minh City People’s Committee on May 19, Gamuda Land expressed its desire to collaborate with Ho Chi Minh City in the planning and architectural conceptualisation phase for the Binh Quoi-Thanh Da peninsula, to explore potential projects in Thu Thiem New Urban Area, and a metro line connecting Ho Chi Minh City and Long Thanh Airport, as well as other urban rail lines in the region.

Since entering the Vietnamese market in 2007, Gamuda Land has developed a number of large-scale urban and residential projects. It is now the largest Malaysian investor in Vietnam, primarily in infrastructure, construction, and real estate.

Among its first major developments were two flagship township projects: the 82-hectare Celadon City in Tan Phu District, Ho Chi Minh City, and the 260-hectare Gamuda Gardens in Hanoi.

Following these, the company has continued to expand with a series of ongoing projects, including Eaton Park in Thu Duc City, The Meadow in Ho Chi Minh City, Artisan Park in Binh Duong province, and SpringVille in Dong Nai province.

In January, Gamuda Land revealed that it had completed the acquisition of a prime land plot in Le Chan district of the northern port city of Haiphong, for $38.9 million. Gamuda Land plans to develop a real estate project on this site with an estimated total development value of around $222 million. This project is set to be launched in the 2026 fiscal year and completed by 2028.

Gamuda Land Vietnam was named in multiple categories at the Vietnam PropertyGuru Awards 2024 on November 15 in Ho Chi Minh City.

Last weekend, Gamuda Land's highly anticipated event drew over 2,500 guests in Ho Chi Minh City, cementing its reputation as a prominent player in Vietnam's real estate market.

Eaton Park, developed by renowned Malaysian firm Gamuda Land, secured two awards at the 19th Asia Property Awards 2024 on December 13in Bangkok, Thailand.