A corporation spent 68 million USD to buy a 2,000m2 plot of land in the center of Ho Chi Minh City.

(NLDO)- UOA Group has completed the acquisition of 2,000 square meters of land in the center of Ho Chi Minh City for 68 million USD.

United Overseas Australia Ltd (UOA) has just completed an agreement to buy a commercial land plot on Vo Thi Sau Street, worth 68 million USD (about 1,775 billion VND).

The deal was executed through three wholly-owned subsidiaries of UOA, namely UOA Vietnam Pte Ltd, UTD Vietnam Pte Ltd and UTM Vietnam Pte Ltd. Through this, UOA acquired 100% of the capital of VIAS Hong Ngoc Bao Joint Stock Company.

According to the plan, the land will be developed into a modern Grade A office building, with a total floor area of ​​approximately 20,000 m².

The project is expected to start construction in the fourth quarter of 2025 and be completed in the second quarter of 2028. UOA's total office space for lease in Ho Chi Minh City will reach nearly 120,000 square meters after this deal.

Total investment value is estimated at 120 million USD (more than 3,120 billion VND).

Previously, in March 2024, UOA cooperated with CapitaLand Development to develop the Sycamore Residential Area project (about 3,500 units) in Binh Duong ward, Ho Chi Minh City.

Currently, UOA's investment portfolio in Vietnam also includes Grade A office buildings such as UOA Tower and Millennial Tower in Phu My Hung urban area.

Perspective of the upcoming UOA Office Building project

Mr. Dickson Kong, Head of Investment Department of UOA Group, said this transaction helps increase UOA's total office floor space for lease in Ho Chi Minh City to nearly 120,000 square meters.

Established in 1987, UOA is one of Asia's leading property groups. UOA operates through listed companies in Australia, Singapore and Malaysia, and a subsidiary in Vietnam.

Source: https://nld.com.vn/mot-tap-doan-chi-68-trieu-usd-mua-khu-dat-2000m2-o-trung-tam-tphcm-196250926213630775.htm