KUALA LUMPUR (9 March): Driven, sharp and approachable – that is one’s immediate impression of Gim Teck Yew. In conversation, it is easy to forget that this thoughtful, well-informed leader is only 35. Perhaps it is precisely this combination of youth, wisdom and grit that Gamuda Land, the property arm of Gamuda Bhd, needed in its new CEO. Since taking the helm last December, Gim has been constantly on the move.

“Travelling has been split between four to five countries. In another three months, I will have visited seven cities. There are mornings when I wake up in a hotel room and genuinely have to pause and ask myself, ‘Where am I today?’,” he jokes in an interview with City & Country.

He appears unfazed, though. “I would say I’m naturally quite adaptable. So, the transition hasn’t been too difficult. At Gamuda, change is the only constant, and I think I’m quite comfortable with being uncomfortable.”

Born and raised in Johor, Gim spent 12 years studying in Singapore. At 18, he encountered a project that would shape both his ambitions and the trajectory of his career.

“Back when I was in Johor, the one township that really impressed me was the 1,228-acre Horizon Hills (a joint venture between Gamuda and UEM Sunrise Bhd). This was even before I joined Gamuda Land. It really set the standard. At that time, I couldn’t afford it, but my mum and I just drove to the launch anyway,” he says.

“We saw this beautiful township with landscaping, and I thought to myself: When I graduate, I want to be involved in building townships like this. That was also why I joined the real estate industry in the first place.”

Gim went on to pursue a bachelor of economics and finance at the University of New South Wales in Sydney. After graduating, he worked with several property developers before joining Gamuda Land in 2021.

Gim was first tasked with leading marketing for one of the earliest phases of the Gamuda Cove township. “When I first joined, sales were about RM200 million a year. Two to three years later, we bumped it up to RM750 million a year,” he recalls.

In 2023, he was promoted to head Gamuda’s marketing and sales team in Vietnam, driving the quick turnaround project (QTP) strategy – a capital-efficient, fast-cycle development model for regional growth. “It was a period of rapid expansion, requiring both speed and discipline. Within 18 months, I became chief operating officer for Vietnam, overseeing two flagship townships in Hanoi and Ho Chi Minh City, alongside six QTP projects,” he says.

He was subsequently appointed deputy chairman of Gamuda Land Vietnam in 2024.

Hitting the ground running

In his new role as CEO, Gim aims to double the property arm’s revenue, net profit and total sales by FY2028.

For FY2024 (ended July 31, 2024), Gamuda Land delivered record sales of RM5 billion, revenue of RM4.2 billion and a net profit of RM411 million, supported by both domestic and international QTP projects. In FY2025, total sales eased to RM4.1 billion and revenue dipped to roughly RM3.8 billion, with net profit declining to about RM378 million as a result of softer demand and the timing of project approvals.

Gim says a key driver of this performance has been the QTP strategy adopted for Gamuda Land’s overseas portfolio. “The QTP model focuses on strategically located, mid-scale developments in high-growth urban markets, allowing for faster capital recycling and steady earnings from a relatively modest capital base.”

Artist’s impression of Gamuda Land’s upcoming project in Thuan An, Ho Chi Minh City, in Vietnam

Regarding the developer’s financial targets over the next three years, Gim says: “In Malaysia, GDP growth typically ranges between 5% and 10% annually. Taking that into account, from 2028, which would be the third year of our current business plan, we expect our Malaysian portfolio contribution to reach RM3 billion to RM3.5 billion in sales.

“Internationally, we are targeting between RM4 billion and RM5 billion. Combined, this would bring the total sales to around RM8.5 billion for the period.”

For the next 12 months, it aims to roll out projects worth RM10 billion in gross development value (GDV).

On Gamuda Land’s next strategic direction, Gim outlines three key pillars aimed at doubling the company’s sales and profits over the next three years: expanding into regional and overseas markets and focusing on strategic, high-growth corridors in which Gamuda Land already has a strong presence; increasing township maturity; and growing recurring income from value-accretive assets.

“Together, these three pillars provide a clear, disciplined road map for scaling Gamuda Land, enhancing portfolio diversification and achieving our medium- to long-term earnings targets.”

For these strategies to work, Gim says, his team’s critical thinking skills are essential.

Gim emphasises that Gamuda balances empowerment with accountability. “My leadership style is to give our talent space to work on ideas and tasks, and that actually trains their critical thinking,” he explains. Reflecting on the company’s success in Vietnam, he adds that it came down to the strength of the people. “We were able to excel in new and harsh environments. That is why, as CEO, I want to train talent that way.”

Steady local growth

In Malaysia, the developer’s expansion plan is clear – to grow its existing townships, including Gamuda Gardens, Gamuda Cove and twentyfive7 in Selangor as well as Horizon Hills in Johor.

“Our townships are now entering the maturing stage, where initial phases are completed and residents have moved and are moving in. Over the next two to three years, our strategy for local townships is to increase population density and vibrancy,” Gim says.

According to him, Gamuda Gardens and Gamuda Cove are currently at 20% to 30% completion, within the seed-to-growth phase.

“At this stage, substantial upfront investments in infrastructure, connectivity and placemaking are made to establish long-term vibrancy. As these ecosystems mature, absorption and overall performance are expected to strengthen,” he says.

“We are also offering more bread-and-butter products, which are more affordable and accessible homes. We are placing greater emphasis on the M40 market, particularly those aged 35 to 40, whose children are growing up and need more space.”

In Johor Bahru, Gim says, Horizon Hills is entering its final phase, for which the developer will be taking a different approach from its Klang Valley townships.

“There’s a clear difference in strategy. For our newer townships, we are launching more bread-and-butter products. For Horizon Hills, however, we are introducing premium offerings of semi-detached homes and bungalows priced from RM2 million to RM3 million.”

He jokes that even as CEO, he could not secure a unit at Horizon Hills.

“That shows the level of demand. With the Johor-Singapore Special Economic Zone gaining traction, much of the attention has been on the Rapid Transit System (RTS Link) and high-rise developments. But what many don’t realise is that landed homes in Johor are in particularly high demand.

“For many Singaporeans and Malaysians working in Singapore, owning property in Singapore is almost impossible because of prices. So, owning landed property in Johor becomes extremely attractive and valuable.”

Up north, Gim says, the first phase of land reclamation for Penang Silicon Island, covering more than 300 acres, has been completed and will officially open for sale next year. This includes 100 acres of the Green Tech Park, which has already drawn strong interest from high-value semiconductor companies. At its core, Gim explains, the developer aims to improve Malaysians’ quality of life. “One direct way to achieve this is by increasing income levels. For that to happen, high-value manufacturing, especially in semiconductors, must continue to grow in Malaysia to create higher-paying jobs,” he says.

Gamuda Land also has a stand-alone joint-venture development with Taylor’s Education Group to redevelop a commercial site in SS15, Subang Jaya. With an estimated GDV of RM500 million, the redevelopment will comprise serviced apartments, purpose-built student accommodation (PBSA) and retail spaces.

“From an investment perspective, international student numbers in Malaysia are growing, and institutions like Taylor’s are performing very well. We see this as a strong investment product, and we are targeting a launch around September this year,” Gim says.

Vietnam leading overseas expansion

According to Gim, Vietnam will account for about 50% of the developer’s launches in the next 12 months; Singapore, the UK and Australia a combined 15%; and Malaysia 35%.

“The five QTPs we acquired 2½ to three years ago have already recognised close to 90% of their profit and revenue. We have since acquired four more and expect to secure another three in the coming year.”

While the developer already has several projects in Ho Chi Minh City and Hanoi, its venture in Hai Phong will be its first. The high-rise mixed-use development called Ambience is scheduled for launch in May.

The Ambience mixed-use development will be the developer’s first project in Hai Phong, Vietnam

Gim says one reason for venturing into Hai Phong is its status as a major port city.

“With the ongoing US-China trade tensions, trade activity through Hai Phong has increased significantly, and the port is thriving as a result. As trade grows, local wealth rises as well, similar to how Klang developed around its port ecosystem. With that economic uplift, purchasing power in Hai Phong has strengthened considerably.”

Over in Hanoi, the developer is gearing up for the launch of a mixed-use development named Central Park in September.

Gim highlights that these two launches will contribute more than RM3 billion in GDV, and notes that Gamuda Land has acquired four new project sites in Ho Chi Minh City and Hai Phong, with a combined GDV of about RM4 billion. These projects are targeted for launch from FY2027, with revenue expected between FY2027 and FY2030. He explains that the Ho Chi Minh City sites are in the eastern corridor and benefit from major infrastructure upgrades, including Ring Road 3, the Metro Line 1 extension, and Highway 13 improvements, which strengthen connectivity and support sustainable demand. “Strong industrial employment, healthy absorption rates, and stable pricing further reinforce long-term performance confidence. Looking ahead, we also have three additional acquisitions in the pipeline, which are to be announced in due course,” he adds.

One of the developer’s upcoming projects In Ho Chi Minh City

Gim says expansion in Vietnam is set to outpace Malaysia over the next two years as Gamuda Land prioritises the market during its growth momentum phase. He also notes that while Vietnam’s population is roughly three times that of Malaysia, its housing supply remains disproportionately lower. “A lot of international developers may not be able to survive in Vietnam, but we are not just surviving – we are thriving really well there,” he says, adding that the country offers a strong medium- to long-term growth runway. “It is similar to Malaysia in the early 2000s, when people were actively buying homes during a rapid growth phase. Our focus there is more on premium and prime segments, targeting the mid- and high-income groups.”

In Singapore, the developer will partner with Evia Real Estate Pte Ltd for a mixed-use residential and commercial site at Chencharu Close in Yishun. With an estimated GDV of RM6.9 billion and slated for launch early next year, the development will comprise up to 875 private residential units, around 12,600 sq m of commercial space, a new hawker centre and an integrated bus depot.

Gim says the site is a six-minute walk from Khatib MRT station and located across from a park. For now, the developer has no plans to sell the commercial units but will leverage them to grow its recurring income.

On expanding Gamuda Land’s presence in Singapore, Gim says the city-state is seen as a “safe haven” because of its political stability and resilient economy, which make the real estate market relatively secure.

“While Vietnam remains our key growth market, Singapore continues to be strategic for us,” he adds, noting that the priority is to execute the current project successfully before pursuing further expansion.

Gim says Gamuda Land will continue to build a steady, recurring income base in the UK through its PBSA and 75 London Wall redevelopment projects. By September, two of its PBSA projects – Woolwich PBSA Phases 1 and 2 in Beresford Street, London – will be completed, allowing the company to assess occupancy and returns within the year. The City Wharf PBSA in Glasgow, Scotland, aims to welcome students by the 2026/27 academic year.

He notes that London remains highly attractive to high-net-worth families in Asia and the Middle East as a top education destination. “As more affluent families send their children there, demand for quality student accommodation has increased, driving rental growth,” he says, adding that the PBSA segment will remain a key focus for Gamuda Land in the UK.

Role model

Leading a major property development company in one’s 30s is no mean feat and, according to Gim, the right attitude matters.

“My advice to aspiring leaders is inspired by Nvidia’s founder (Jensen Huang), who said: ‘I hope suffering happens to you.’ At first, it sounds harsh, but it makes sense because obstacles, stress and failures are where real growth happens.

“When hardships, uncertainty or obstacles come your way, don’t run. Grind through them, stay determined and always seek advice. I’m still learning as well, and being a CEO isn’t the end of the road.”

As he journeys down that road, he keeps in mind a piece of advice from a senior colleague: “If you take care of your health and maintain your energy, you can move faster.”

Explore Gamuda Land’s growing portfolio of regional developments here.