SetiaBecamex JSC, developer of EcoLakes at MyPhuoc, officially unveiled the EcoLakes Show Gallery in Ho Chi Minh City, Vietnam, located on the ground floor of Saigon Trade Center in District 1.
S P Setia’s chief executive officer Tan Sri Liew Kee Sin said the opening of the EcoLakes show gallery was proof that the developer is committed to Vietnam for the long haul despite the current challenging economic climate. According to Liew, its target purchasers are people who work in My Phuoc Industrial Park (MPIP).
EcoLakes at MyPhuoc is located in MPIP, 40km north of Ho Chi Minh City at Ben Cat District in Binh Duong Province. The project is a 226ha township with a gross development value of US$839 million (about RM3.02 billion) and is being developed by SetiaBecamex JSC, a joint venture company between Malaysia’s S P Setia Bhd and Vietnam’s Becamex IDC Corp.
Designed after S P Setia’s Setia Eco Park in Shah Alam, Selangor, EcoLakes at MyPhuoc is being billed as Vietnam’s first eco sanctuary and will set new benchmarks in the Vietnamese property market. It is touted to offer “a complete, balanced and wholesome quality of life for the entire family”. The development will offer a range of residential properties such as link homes, semi-Ds, villas, apartments and condominiums.
The development is accessible from Ho Chi Minh City along National Highway 13, while a new 35km closed highway which is currently under construction, will link EcoLakes to Tan Van in District 19, Ho Chi Minh City, the port and international airport.
Liew said he had full confidence in Vietnam’s growth despite the current global economic factors. “I believe the property landscape in Vietnam will go through a remarkable change in the next 10 years,” he added.
To commence in the second quarter of 2009, Phase One of EcoLakes will comprise four precincts namely, The Garden of Splendor, Summer Gardens, Valley of Dreams: Romance of the Roses, and Canal Garden. The first and second precincts offer terraced homes and apartments respectively. The third precinct offers villas and twin-villas while the fourth precinct comprises commercial properties.
S P Setia is Malaysia’s leading developer, ranked as Malaysia’s top property developer by The Edge Malaysia Top Property Developers Awards for four consecutive years since 2005. Although SetiaBecamex is a considerably new company, it has also achieved national recognition with two awards namely, the Golden Dragon Award 2008 and the Saigon Times Top 40 Award 2009.
