Chairman of HCMC People's Committee has approved the investment project of UOA Investments PTE from Singapore.
Specifically, the company will invest in building an office tower for rent in HCM City.
The construction project is about to carry on a total area of 2,975 m2 and the total floor area of 37,425 m2. The building is located in Tan Phu Ward, District 7, HCM City. The total investment capital of the project is VND1,001 billion, equivalent to US$45.7 million. The land allocation of the project is until May 19, 2043.
UOA Investments has established UOA Tower Co., Ltd in Vietnam to implement the project. The company has a chartered capital of VND219 billion. The legal representative is Mr. Kong Chong Soon, born in 1941. He also holds the position of Director of UOA Investments.
The demand for foreign capital in real estate sector of Vietnam is very high. In the first half of this year, the sector has lost its runner-up position in attracting FDI into Vietnam. In the first half of this year, there were 39 real estate projects with total capital of US$461 million registered in Vietnam, after processing industry, power industry and mining.