17:12 (GMT +7) - Wednesday 21/08/2019

Property

GS E&C's smart township in HCMC on horizon

Released at: 11:20, 02/08/2019

GS E&C's smart township in HCMC on horizon

Photo: GS E&C

South Korean developer's premium urban oasis to be completed in 2021.

by Khanh Chi

GS E&C, the engineering and construction subsidiary of South Korean conglomerate the GS Group, has been developing a noteworthy legacy in Vietnam, the Zeitgeist project in Ho Chi Minh City’s Nha Be district, after a number of previous construction and infrastructure projects.

According to South Korea’s Ministry of Land, Infrastructure and Transport, GS E&C ranked first among suppliers of new apartments in South Korea in 2018 based on its impeccable construction ability. Standing out from its competitors, GS E&C remains the only provider of luxury apartments and the number two name in townhouse and villa projects. Since 2015, the company has sold more than 20,000 homes each year, including 24,345 in 2017 and 20,748 in 2018.

“We have a great interest in and passion for the future of Vietnam,” said Mr. Cho Sung Yol, General Director of GS E&C Vietnam. “From premium townships to vital additions to the country’s infrastructure, our vision is to make a positive impact on Vietnam’s future.”

With more than 40 years of experience in South Korea and steadfast dedication to the betterment of Vietnam, GS E&C established Vietnam GS Industry (VGSI) as its local development arm in 2007.

Incorporating its parent company’s commitment to green, smart, and sustainable technology and maintaining the same core values - great innovation and great partnership - VGSI’s most impressive contribution to Ho Chi Minh City is the under-construction Zeitgeist township in Nha Be district.

Derived from the German word meaning “the spirit of the times”, Zeitgeist will be built across five phases, the first of which, zeit River County 1, pronounced “zai”, and will represent the balance between work, family, and self.

Optimally located on Nguyen Huu Tho with access to a number of bridges, canals, and infrastructure, once completed, Zeitgeist will comprise approximately 760 villas, 770 mid-end apartments, and 13,000 high-end apartments, in addition to 2,600 mixed-use buildings, including a school, hospital and cultural and administrative building on a total of 349 ha.

“In its first phase, zeit River County 1 will introduce an integrated sense of harmony using modern technology alongside vast green spaces,” said Mr. Cho. “With lots of natural light and manicured outdoor areas juxtaposed with smart technology, we invite future residents to discover a harmonious balance between a busy urban existence and a relaxed, peaceful one.”

zeit River County 1 will be introduced to the market in the coming months. In this first phase, buyers can expect 17.9 ha of 359 villas, townhouses and shophouses to be ready for handover in the fourth quarter of 2021.

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