Elysian Construction Progress and Legal Status 2026: Topped Out, Guaranteed, Licensed

Posted by Khoi Pham on September 5, 2026

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Elysian by Gamuda Land seen from above, Lo Lu, Thu Duc

All four Elysian towers topped out by February 2026, fit-out and façade works have reached level 17, and the project carries bank guarantees from Vietcombank and Public Bank. For an off-plan purchase, those are the two things that matter most: real progress and a complete legal file. This article sets out both, plus what a buyer should insist on seeing before signing.

All four towers topped out in February 2026

The single most important structural milestone is done. The four towers topped out on this schedule:

Tower	Topping-out date
Towers A and C	5 November 2025
Tower B	15 December 2025
Tower D	30 January 2026

Topping out matters practically for a buyer. From this point the largest risk in an off-plan purchase — structural works stalling — has passed. What remains is fit-out, façade and landscaping: slow work, but rarely the reason a project halts outright.

All four Elysian towers topped out by February 2026

Progress as at July 2026: fit-out has reached level 17

Item	June 2026	July 2026
Structure	Topped out since February 2026	Topped out since February 2026
Apartment fit-out	Up to level 15	Up to level 17
Façade	Up to level 15	Up to level 17
Podium	Under construction	Interior fit-out of communal amenities
Landscaping	Infrastructure works	Infrastructure and landscape packages accelerating

The month-on-month delta tells you the run rate: fit-out and façade are climbing at roughly two floors per month. That is a more useful number for estimating handover than the date printed on the contract.

Fit-out works under way at Elysian

What the Elysian legal file contains

This is the section most buyers skip and the one that determines how safe the transaction actually is. The developer’s file covers:

Category	Documents
Land use rights	Land use right certificate issued to the project company, plus land allocation decisions
Planning	Approval of the adjusted 1/500 detailed plan
Investment	Investment registration certificate with subsequent amendments; feasibility study appraisal
Construction	Construction permit; commencement notice; acceptance records for basement and substructure
Fire safety	Fire prevention and fighting design appraisal certificate
Sales	Licence to sell future housing; approval of the registered template sale contract
Bank guarantee	Guarantee undertakings from Vietcombank and Public Bank

What the bank guarantee does, and what to ask for

Vietnamese law requires a developer selling future housing to hold a commercial bank guarantee. If the developer fails to hand over as promised, the bank refunds what the buyer has paid. It is the single most important financial protection in an off-plan purchase — and buyers are entitled to receive a guarantee letter issued for their own unit, not just the project-level undertaking. Ask for it in writing.

Three things to confirm before signing

The guarantee letter for your specific unit code. The project-level undertaking and the unit-level letter are two different documents.
The management fee agreement. Elysian has a separate agreement covering preferential management fees, executed as its own document set alongside the sale contract. Check it is included in what you receive.
The email address registered on your contract. The developer issues payment notices and accepts confirmations only through the registered email. Confirmations from any other address are treated as invalid.

Running costs to budget for

Where a unit comes with a named car parking bay, owners generally pay two monthly charges — parking and management. The bay is tied to the apartment: it can be sub-let but not sold separately. Apartments are also fitted with a sprinkler head above the main entrance door.

Frequently asked questions

Has Elysian topped out?

Yes. Towers A and C topped out on 5 November 2025, Tower B on 15 December 2025 and Tower D on 30 January 2026. All four towers were structurally complete by February 2026.

What is the current construction progress at Elysian?

As at July 2026, apartment fit-out and façade works had reached level 17, the podium was in interior fit-out for communal amenities, and the swimming pool structure was complete with surface finishing under way.

Does Elysian have a bank guarantee?

Yes — guarantee undertakings from Vietcombank and Public Bank. Buyers should request the guarantee letter issued for their own unit code, not only the project-level undertaking.

Does Elysian have a licence to sell?

Yes. The file includes the licence to sell future housing, approval of the registered template sale contract, and the fire safety design appraisal certificate.

Can the car parking bay at Elysian be resold?

No. The named parking bay is tied to the apartment. It can be sub-let but cannot be sold separately from the unit it belongs to.