Gamuda Land Vietnam to launch apartments at Celadon City next month

HO CHI MINH CITY (May 17): Gamuda Land, the property arm of Gamuda Bhd is planning to launch the first block of apartments in the Emerald Precinct at its township development Celadon City in Ho Chi Minh City (HCMC) by mid-June.

Gamuda Land Ho Chi Minh City (HCMC) general director Wyeren Yap Vooi Soon told reporters during a group media interview session in HCMC yesterday that Block A of Emerald Precinct consists of 398 units of one-bedroom to 3 + 1-bedroom apartments with built-ups ranging from 45 to 180 sq m. Prices are between US$1,400 (RM6,053) and US$1,500 per sq metre (psm).

Yap added that about 140 units in the block have been booked after the recent soft launch. Gamuda Land hopes to achieve a take-up rate of more than 50% for Block A upon its official launch.

With a gross development value (GDV) of more than US$200 million, Emerald Precinct will comprise 2,200 apartment units in six buildings which will be rolled out progressively from next month. The development is expected to be completed in 2019.

Located in HCMC’s Tan Phu district, Celadon City is Gamuda Land’s second development in Vietnam after making its debut with the 500ha Gamuda City development in Hanoi in 2007.

The 82ha Celadon City has a GDV of about US$1 billion. The township comprises four precincts, namely Ruby Precinct, Emerald Precinct, Sapphire Precinct and Diamond Precinct. It also features an education centre, a cultural centre and the first Aeon Mall in Vietnam,  Aeon Mall Tan Phu Celadon.

Ruby Precinct is the first phase of Celadon City (GDV of between US$180 million and US$190 million) and was launched about seven years ago at prices ranging from US$1,100 to US$1,300 psm. The average built-ups for the apartments are between 65 to 95 sq m.

It had achieved a take up rate of almost 100% for some 1,520 apartments units in the precinct as only less than 20 units are unsold, said Yap.

He noted that around 95% of Ruby Precinct buyers were locals in the middle income group while the balance were made up of foreigners.

Gamuda Land is also planning to roll out the Diamond Precinct towards the end of next year. It will consist of 3,500 retail lots, officetels and boutique apartments.

The built ups for the units in Diamond Precinct will range from 40 to 180 sq m, with prices from US$1,800 to 2,000 psm.

"Diamond Precinct is located at the heart of Celadon City. We are going to design it based on a boulevard concept. It is expected to be a prominent area for residents to gather when it is completed," he said.

He added that the boutique units in Diamond Precinct will be the township’s most exclusive high-end apartments.

Another new launch in 2018 will be the officetels in Sapphire Precinct, which will have a price tag of between US$1,200 and 1,300 psm, with built ups from 40 to 60 sq m.