United Overseas Australia unit acquires prime Vietnam site

The company plans to invest a total of $154.7m to develop the commercial land.

United Overseas Australia (UOA) has acquired a prime Ho Chi Minh City CBD site for $87.7m (US$68m) through a full acquisition of VIAS Hong Ngoc Bao Joint Stock Company.

The company plans to invest a total of $154.7m (US$120m) to develop the 2,000 square metre commercial land into a sustainable Grade-A office building.

Construction is scheduled to start in the fourth quarter of 2025 and be completed by the second quarter of 2028.

The acquisition will expand UOA’s office portfolio to three properties, totalling nearly 120,000 sq. m.

($1=US$0.77)

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