Gamuda Land expands investment in Vietnam's real estate market

Gamuda Land, a regional property developer, is expanding in Vietnam as the country experiences rapid economic growth. Vietnam's economy grew by 7.1 percent last year, driven by foreign investment and a strong manufacturing sector. As incomes rise, the middle class is looking for well-planned communities. The Vietnamese government is focused on improving infrastructure to connect cities and provinces. Major projects like the Ho Chi Minh City metro are helping urban growth. Gamuda Land has been active in Vietnam since 2007, starting with Gamuda City, one of the largest urban developments in the country. The company has since completed Celadon City, featuring 6,600 homes and a development value of $1 billion. Gamuda Land's projects have significantly impacted local economies. For example, Celadon City has created over 10,000 jobs, improved education facilities, and boosted property values. The company is now developing Eaton Park, a luxury mixed-use project in Ho Chi Minh City that has generated strong demand since its launch. To support growth, Gamuda Land is focusing on high-return projects that can provide returns within five years. They recently acquired land in Haiphong for $38.9 million, reflecting the city's growing residential market. Over the next five years, Gamuda plans to invest $2.4 billion globally, with $1.6 billion earmarked for Vietnam. The company expects Vietnam to make up a significant portion of its international sales by 2030. Gamuda Land is optimistic about the opportunities in Vietnam's vibrant real estate market.