UOA Group completed the purchase of a 'golden' land plot worth 68 million USD in the center of Ho Chi Minh City

United Overseas Australia Ltd (UOA), a company listed on the Australian and Singapore Stock Exchanges, has just completed an agreement to acquire a commercial land plot in the center of Ho Chi Minh City worth 68 million USD.

Perspective illustration of UOA Group's office building project with an estimated total investment value of 120 million USD (more than 3,120 billion VND) - Photo: UOA

Speaking to Tuoi Tre Online on September 26, United Overseas Australia Ltd (UOA) said it had just completed an agreement to buy a commercial land plot in the center of Ho Chi Minh City worth 68 million USD (about 1,775 billion VND), with a total estimated project investment value of 120 million USD (more than 3,120 billion VND).

This deal was carried out through UOA Group's acquisition of 100% of the capital of VIAS Hong Ngoc Bao Joint Stock Company.

The land area is 2,000m², located in the center of Ho Chi Minh City, in the old District 1, which is being planned to become an international financial center. This deal contributes to strengthening UOA's presence in Vietnam, a market that this enterprise considers strategic.

According to UOA Group, with its location right in the city center, an area home to many Class A and B office buildings, attracting multinational corporations, financial institutions and leading domestic enterprises, the project will benefit from the existing business ecosystem, rich urban amenities and an upgraded transport infrastructure network.

Especially in the future, when metro line 4 and the North-South high-speed railway come into operation, it will significantly increase the connectivity and value of the area.

Mr. Dickson Kong - Head of Investment Department of UOA Group - said that Vietnam is emerging as a new financial and technology center of the region, driven by a key investment strategy in high-tech industries and infrastructure led by the Government .

"This transaction helps increase UOA's total office floor area for lease in Ho Chi Minh City to nearly 120,000 square meters. At the same time, we are also actively seeking opportunities to develop modern, sustainable residential areas, contributing to the development of green urban areas in Vietnam, based on the reputation and experience that have been affirmed in Malaysia," said Mr. Dickson Kong.

According to UOA Group, the investment, funded by UOA's capital reserves, is part of its strategy to diversify its portfolio and increase stable revenue streams, in addition to the group's existing assets in Australia, Malaysia, Singapore and Vietnam.

According to the plan, the land will be developed into a modern Grade A office building, with a total floor area of ​​approximately 20,000m². The project is expected to start construction in the second quarter of 2025, and be completed in the second quarter of 2028.

Following this transaction, UOA increases its total real estate investments in Vietnam to three projects.

UOA Group develops many projects in Vietnam

In March 2024, UOA cooperated with CapitaLand Development to develop the Sycamore residential project (about 3,500 units) in Binh Duong ward, Ho Chi Minh City. UOA's portfolio in Vietnam also includes Grade A office buildings such as UOA Tower and Millennial Tower in Phu My Hung urban area.

Established in 1987, United Overseas Australia Ltd (UOA Group) is one of the leading real estate groups in Asia. UOA Group is listed on both the Australian Securities Exchange (ASX) and Singapore Stock Exchange (SGX).

UOA's current focus of operations is in Malaysia, while the group is also expanding to Singapore, Vietnam and Australia through local representatives.

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Source: https://tuoitre.vn/tap-doan-uoa-mua-xong-khu-dat-vang-68-trieu-usd-o-trung-tam-tp-hcm-2025092614410346.htm