UOA completes $68 million purchase of central Ho Chi Minh City land

Perspective of UOA's latest project in the center of Ho Chi Minh City

In an announcement issued on September 26, 2025, UOA announced that the group had acquired 100% of the capital of VIAS Hong Ngoc Bao Joint Stock Company to develop the project on a 2,000 m2 land plot, located in the old District 1, which is being planned to become an International Financial Center in the future.

This transaction contributes to strengthening UOA's presence in Vietnam, one of the group's strategic markets.

Previously, in March 2024, UOA made its mark in the market when it cooperated with CapitaLand Development, one of Singapore's leading real estate developers, 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.

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

“This transaction helps us 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 Group’s reputation and experience that has been affirmed in Malaysia.”

The investment, funded by UOA's capital reserves, is part of the group's strategy to diversify its portfolio and increase its stable income streams, in addition to its 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 20,000 m2.

The project is expected to start construction in the fourth quarter of 2025 and be completed in the second quarter of 2028.

With its central location in the city, an area with many Grade 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 the upgraded transport infrastructure network. In particular, 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. The agreement is made through three wholly-owned subsidiaries of UOA: UOA Vietnam Pte Ltd, UTD Vietnam Pte Ltd and UTM Vietnam Pte Ltd.

Established in 1987, UOA Group is one of the leading real estate groups in Asia, with extensive experience in providing comprehensive solutions throughout the real estate value chain, from development, investment, construction to asset management.

UOA Group operates through listed companies in Australia, Singapore and Malaysia, along with its subsidiary in Vietnam (UOA Vietnam Pte Ltd).

UOA's current focus of operations is in Malaysia and is managed through UOA Development Bhd, while the group is also expanding into Singapore, Vietnam and Australia through its local representatives with a diverse portfolio ranging from large-scale residential and commercial projects in key urban areas, to tourism hotels and modern healthcare facilities.

Source: https://baodautu.vn/uoa-hoan-tat-thuong-vu-mua-khu-dat-trung-tam-tphcm-tri-gia-68-trieu-do-la-d394421.html