UOA Group partners with Vietcombank to accelerate investment expansion in Vietnam

UOA Group partners with Vietcombank to accelerate investment expansion in Vietnam

UOA Group of Companies on May 5 announced a collaboration with Joint Stock Commercial Bank for Foreign Trade of Vietnam – Tan Son Nhat Branch (Vietcombank) to secure financing facilities for the development of two Grade A office projects, UOA Parc Tower and Millennial Tower, in Ho Chi Minh City.

As part of this alliance, Vietcombank will provide financial support for the development of the two UOA Group projects and to consider funding arrangements for future projects. The collaboration was announced on May 5. Vietcombank's Tan Son Nhat Branch will provide financial support for UOA Parc Tower and Millennial Tower, and will consider funding arrangements for future projects.

The alliance comes as demand in Ho Chi Minh City’s commercial real estate market continues to favour high-quality projects backed by developers with strong execution capabilities and long-term stability. As one of Vietnam’s leading banks in terms of scale, financial strength, and brand reputation, Vietcombank is regarded as a trusted financial provider that shares UOA Group’s commitment to quality developments and sustainable growth.

Nguyen Chi Linh (left), director of Vietcombank, Tan Son Nhat Branch and Wyeren Yap, CEO of UOA Vietnam

Beyond providing a solid financial foundation, the alliance is also expected to strengthen market confidence in UOA Group’s projects. According to Wyeren Yap, CEO of UOA Vietnam, Vietnam is one of UOA Group’s key markets in its long-term growth plans.

“Our current portfolio in Vietnam includes three office developments and one residential project, delivering more than 120,000 square metres of office space and 3,500 residential units. To date, our total investment in Vietnam has reached more than $470 million. We aim to expand and target to double our investment scale over the next three to five years with a focus on high quality residential, commercial and office development,” Yap said.

“Our alliance with Vietcombank secures the financial resources for the two office developments currently under construction and establishes a foundation for broader collaboration opportunities in the future as UOA Group continues to expand,” he added.

Wyeren Yap, CEO of UOA Vietnam

The current arrangement focuses on two projects: UOA Parc Tower and Millennial Tower.

UOA Parc Tower is located in the central area of Ho Chi Minh City, with a gross floor area (GFA) of approximately 20,160 sq.m. The project is positioned as a Grade A office tower featuring modern architecture and a sustainability-oriented development approach. With its prime central location, the undertaking is expected to capture demand from financial institutions and international enterprises as Ho Chi Minh City advances its ambition to become an International Financial Centre.

UOA Parc Tower is designed to cater to multinational corporations, professional service firms, and high-growth technology companies.

In the southern part of the city, Millennial Tower is being developed within the Phu My Hung urban area, with a gross floor area of approximately 60,495 sq.m. The initiative is envisioned as one of the largest office developments in the area. Rising 24 storeys, Millennial Tower features contemporary architecture and flexible workspace solutions that accommodate diverse operational needs of businesses.

Inspired by the dynamic pace of the new generation of enterprises, Millennial Tower aims to create a working environment that emphasises connectivity, flexibility, and adaptability. The development contributes to expanding office supply in the southern corridor of Ho Chi Minh City while strengthening UOA Group’s portfolio in Vietnam.

The combination of UOA Group’s development expertise and Vietcombank’s financial strength is expected to accelerate project delivery while elevating development standards within Ho Chi Minh City’s office sector.

In the long term, this alliance extends beyond the two current developments, opening up opportunities for further collaboration between the two parties in future projects, while contributing to the sustainable growth of Vietnam’s commercial real estate market.

Dang Hoai Duc, deputy CEO of Vietcombank said that Vietcombank highly valued the project development capabilities of UOA Group and expresses strong confidence in its long-term investment direction in Vietnam.

“UOA Parc Tower and Millennial Tower are well-positioned to meet the growing demand from both domestic and international enterprises, particularly as the market increasingly prioritises quality, operational standards, and sustainability considerations,” said Duc.

"The collaboration with UOA Group underscores Vietcombank’s focus on partnering with professionally developed projects that are underpinned by solid market fundamentals, directed towards delivering sustainable, long-term value," he added.

The announcement of the collaboration between UOA Group and Vietcombank therefore represents a milestone for both organisations while reflecting a broader transformation of the market, where financial capability, brand credibility, and development standards are becoming increasingly interconnected.

VIR