United Overseas Australia Limited
(ASX:UOS) has entered into a joint venture to build a development in Vietnam.
UOS is Australian based but develops and manages property mainly in Malaysia. The 50/50 partnership is with Vietnamese company 577 Investment Corporation.
The pair plans to build a mixed commercial and residential development on a 5,800 square metre site in the Thi Thiem district of Ho Chi Minh City.
The development has an end value of US$29 million.
United Overseas Australia reported a net profit of $206.8 million to the end of December 2015.
