Singaporean company to pour 1,001 billion dong to build high-rise building in ho chi minh city

Chairman of People’s Committee of Ho Chi Minh City has just decided to approve UOA Investments PTE from Singapore to build UOA Tower project.

In particular, UOA Investments will invest in building an office tower for rent in Ho Chi Minh City.

The project is constructed on a total area of 2,975m2, total floor area is 37,425m2. The building is located in Tan Phu Ward, District 7, Ho Chi Minh City. The total investment capital of the project is VND 1,001 billion, equivalent to USD 45.7 million. The project was allocated land until May 19, 2043.

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It is known that UOA Investments has established UOA Tower Co., Ltd in Vietnam to implement the project. This company has charter capital of 219 billion. The legal representative is Mr. Kong Chong Soon, born in 1941,  Malaysian citizen who also holds the position of Director of UOA Investments.

Real estate in Vietnam is in a state of being thirsty of “foreign capital”. In the first half of this year, real estate lost its second position in attracting FDI into Vietnam. In particular, in the first half of this year, there were 39 real estate projects with a total capital of USD 461 million registered to invest in Vietnam, after processing industry, power industry and mining industry.

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