UOA Group Secures Prime Ho Chi Minh Land for Landmark Grade A Office Tower in US\$120M Expansion

Key Highlights

• UOA Group’s wholly owned subsidiary, UOA Vietnam Pte Ltd (UOAV), has successfully completed the acquisition of 100% of VIAS Hong Ngoc Bao Joint Stock Company—granting it unencumbered ownership of a valuable land parcel in District 1, Ho Chi Minh City.
• The acquisition price was VND1,775,000,000,000 (approximately US\$68.3 million or AU\$103.7 million).
• The transaction was financed entirely from UOA’s reserves.
• The site, exceeding 2,000 sqm, sits in one of Ho Chi Minh City’s most sought-after central business locations, surrounded by Grade-A and Grade-B office towers.
• UOA Group plans to develop a sustainable Grade A office building with a gross floor area of 20,000 sqm, with construction to commence in Q4 2025 and targeted completion in Q2 2028.
• The total estimated investment for the development is US\$120 million (AU\$182.3 million).
• This acquisition increases UOA’s total gross floor area (GFA) in Ho Chi Minh City to nearly 120,000 sqm.
• UOA is also exploring residential development opportunities in Vietnam, leveraging its experience across Asia.

What Shareholders Must Know

• Material Transaction: The acquisition is a significant capital deployment, representing a major foray into Vietnam’s premium office market. The investment aligns with UOA’s strategy to diversify and strengthen income streams.
• Portfolio Diversification: UOA now holds a key asset in one of Asia’s fastest-growing financial hubs, complementing its existing footprint in Australia, Malaysia, and Singapore.
• Strategic Timing: The transaction capitalizes on Vietnam’s rapid economic growth and government-led push to become a global financial center, which could translate to high demand and strong rental yields for premium office properties.
• Potential Share Price Catalyst: The successful execution and future development of a sustainable, high-quality office tower in a prized location could materially enhance UOA’s recurring income and asset value, likely impacting investor sentiment and the company’s market valuation.
• Robust Funding Position: The use of reserves for the acquisition (rather than new debt or equity) highlights UOA’s strong balance sheet and financial discipline.
• Future Growth Pipeline: UOA’s active exploration of further residential and commercial opportunities in Vietnam signals a robust growth pipeline, which may be supportive for long-term shareholder value.

In-Depth Details for Investors

United Overseas Australia Ltd (ASX: UOS) has announced the completion of all conditions related to the acquisition of VIAS Hong Ngoc Bao Joint Stock Company, finalizing the transfer of shares to its subsidiaries UOA Vietnam Pte Ltd, UTD Vietnam Pte Ltd, and UTM Vietnam Pte Ltd. This acquisition secures for UOA Group unencumbered title to a premium land parcel of over 2,000 sqm in Ho Chi Minh City’s former District 1—a district renowned for its high concentration of multinational corporations, leading domestic companies, and top-tier office towers.

The US\$68.3 million transaction, funded via company reserves, positions UOA to capitalize on the ongoing transformation of Vietnam’s urban landscape. The company plans to develop a landmark, sustainable Grade A office tower with approximately 20,000 sqm of gross floor area. Construction is set to commence in the fourth quarter of 2025, with completion targeted for the second quarter of 2028. The total anticipated investment in the project is US\$120 million (AU\$182.3 million).

Dickson Kong, Head of Investment at UOA, emphasized the strategic importance of the move: “Our expansion in fast-growing Vietnam capitalises on its government-led transition to a global financial hub, with heavy state investment in high-tech sectors and infrastructure. This acquisition will elevate our total GFA footprint to almost 120,000 sq m in Ho Chi Minh City. We are also actively exploring residential development opportunities in Vietnam, leveraging our strong track record. With the country strongly headed towards more sustainable development, UOA aims to partner with Vietnam towards a greener urban future.”

For context, UOA Group is a diversified real estate firm with a deep presence across Asia, including Australia, Malaysia, Singapore, and Vietnam. The group’s portfolio spans residential, commercial, hospitality, and healthcare assets. Through disciplined execution and strategic capital management, UOA seeks to deliver impactful developments that drive long-term value and enhance urban living standards.

This acquisition is a potentially significant catalyst for UOA’s share price, given the scale of the investment, the prime location of the asset, and the group’s demonstrated ability to deliver and manage high-value developments across Asia. Investors should closely monitor further updates, especially as construction commences and leasing activity for the new office tower progresses.

Disclaimer

This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell securities. Investors should conduct their own research and consult with a qualified financial advisor before making investment decisions. The information herein is based on company announcements and public disclosures as of the publication date and may be subject to change.

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