United Overseas Australia Ltd (UOA) Group has finalized a $68 million USD (approximately VND 1,775 billion) deal to acquire a prime commercial plot on Vo Thi Sau Street.
The acquisition was executed through three wholly-owned subsidiaries of UOA: UOA Vietnam Pte Ltd, UTD Vietnam Pte Ltd, and UTM Vietnam Pte Ltd. This transaction involves the purchase of 100% of the equity in VIAS Hong Ngoc Bao Joint Stock Company.
Plans are underway to develop the site into a state-of-the-art Grade A office building, boasting a total floor area of approximately 20,000 m².
Construction is slated to commence in Q4 2025, with completion expected by Q2 2028. Upon completion, UOA’s total leasable office space in Ho Chi Minh City will reach nearly 120,000 m².
The total investment value is estimated at $120 million USD (over VND 3,120 billion).
Earlier, in March 2024, UOA partnered with CapitaLand Development to develop the Sycamore Residential Area (approximately 3,500 units) in Binh Duong Ward, Ho Chi Minh City.
UOA’s existing portfolio in Vietnam includes prominent Grade A office developments such as UOA Tower and Millennial Tower in Phu My Hung Urban Area.
Rendering of the upcoming UOA Office Building project
According to Mr. Dickson Kong, Head of Investment at UOA Group, this acquisition will elevate UOA’s total leasable office space in Ho Chi Minh City to nearly 120,000 m².
Founded in 1987, UOA is a leading real estate conglomerate in Asia. The group operates through listed companies on stock exchanges in Australia, Singapore, and Malaysia, alongside its subsidiary in Vietnam.
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