Gamuda Land wants to grow its success on home soil to Vietnam.
Malaysian developer Gamuda Land has announced its intentions to spread its wings even further into Vietnam. Part of Gamuda Berhad, one of the country’s leading property developers known for developing townships communities that are built with sustainability in mind. Their aim is to create towns and subsequently communities for all ages of society.
Now the developer has increased its attention to the growing Asia Tiger of Vietnam. Having already made the country its first overseas venture ten years ago with Gamuda City. Built just outside the northern city of Hanoi the site spans 500 hectares. Consisting of residential and commercial space, Gamuda City, ‘Showcases the best of living, education, entertainment, medical, hospitality and business experiences, a place where your heart truly belongs’, according to the developer’s marketing collateral.
Now the company is continuing its focus on Hanoi but also Ho Chi Minh City. For the latter, they are looking at land in District 9, 12 and Gò Vấp District. A previous Gamuda Land scheme in the southern buzzing metropolis is Celadon City which is still under construction.
Gamuda Land plans to capitalise on Vietnam’s rapid change in particular its growing rate of urbanisation. Underpinned by the economy which is propelling forward at a rate of knots, the landscape of the country is changing too. It is estimated that only 20 percent of the population lived in an urban setting towards the end of the 1980s. However, now this figure has reached 34 percent. Subsequently the amount of urban pockets has increased too.
It is believed that 150,000 people move from rural areas to both Hanoi and Ho Chi Minh City annually. Seeking employment opportunities as technological advances have meant that many of the country’s industries are less labour intensive. For example, within agriculture and fishing. This puts a pressure on housing and Gamuda Land have eyed up this opportunity. Stating that the concept of a township was relatively unheard of when they first entered the country, today townships are springing up across the country to keep up with demand.