United Overseas Australia Ltd (UOA) Group – a dual-listed company on the Australian Securities Exchange (ASX) and Singapore Exchange (SGX) – has finalized the acquisition of a prime commercial land plot in Ho Chi Minh City’s central business district for USD 68 million (approximately VND 1.7 trillion). The total investment value is estimated at USD 120 million.
Previously, in July 2025, UOA announced the acquisition of 100% equity in VIAS Hong Ngoc Bao Joint Stock Company.
The transaction was executed through three wholly-owned subsidiaries of UOA: UOA Vietnam Pte Ltd, UTD Vietnam Pte Ltd, and UTM Vietnam Pte Ltd.
With this acquisition, UOA now holds three investment properties in Vietnam.
Established in 1987, UOA Group is a leading Asian real estate conglomerate with extensive expertise in delivering end-to-end solutions across the property value chain – from development and investment to construction and asset management.
UOA operates through listed entities on stock exchanges in Australia, Singapore, and Malaysia, alongside its Vietnamese subsidiary (UOA Vietnam Pte Ltd).
Currently, UOA’s core operations are centered in Malaysia, managed by UOA Development Bhd, while the group is actively expanding into Singapore, Vietnam, and Australia through local representatives.
Its diversified portfolio spans large-scale residential and commercial projects in key urban centers, hospitality ventures catering to tourism, and modern healthcare facilities addressing growing demand.
The newly acquired 2,000 sqm plot is located in the former District 1, earmarked for transformation into a future International Financial Center.
In March 2024, UOA partnered with CapitaLand Development to develop the Sycamore residential project (approximately 3,500 units) in Binh Duong Ward, Ho Chi Minh City. UOA’s Vietnamese portfolio also includes Grade A office buildings such as UOA Tower and Millennial Tower in Phu My Hung Urban Area.
Dickson Kong, Head of Investment at UOA Group, stated: “This acquisition increases UOA’s total leasable office space in Ho Chi Minh City to nearly 120,000 sqm.”
The site will be developed into a Grade A office building, with construction slated to begin in Q4/2025 and completion expected in Q2/2028. (Artist’s impression)
Mr. Kong added that the investment is funded through UOA’s reserves, aligning with its strategy to diversify its portfolio and enhance stable income streams, complementing existing assets in Australia, Malaysia, Singapore, and Vietnam.
The project will develop the site into a modern Grade A office building with a total floor area of approximately 20,000 sqm. Construction is scheduled to commence in Q4/2025, with completion targeted for Q2/2028.
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