UOB Vietnam breaks ground on $450mn headquarters in Ho Chi Minh City

The bank officially launched the construction of UOB Plaza Ho Chi Minh City on Wednesday.

Located at 2 Ton Duc Thang Street in the Ba Son area, the grade-A office tower will rise 36 stories and 160 meters on a 4,571-square-meter riverside site overlooking the Saigon River.

The project is scheduled for completion in 2030.

Designed to meet international sustainability standards, the tower will seek Green Mark certification from Singapore's Building and Construction Authority.

Its climate-responsive design is expected to improve energy efficiency while providing a comfortable workplace that aligns with global environmental, social, and governance standards.

Beyond serving as UOB Vietnam's headquarters, the development is planned as a mixed-use destination integrating architecture, art, nature, and local culture to help create a vibrant, community-oriented environment within the VIFC-HCMC.

Speaking at the ceremony, Wee Ee Cheong, deputy chairman and CEO of UOB, said the approximately $450 million investment demonstrates the bank's long-term commitment to Vietnam, one of its key ASEAN markets.

He said the project underscores UOB's confidence in Vietnam's long-term economic outlook and aligns with Ho Chi Minh City's ambition to become an international financial center.

Looking ahead, UOB plans to establish a branch within the VIFC-HCMC and work closely with government agencies, industry partners, and other stakeholders to support the center's development and enhance its role as a regional and global financial hub.

The bank said it will also expand its capabilities to better serve customers while helping Vietnam strengthen its links with regional and global markets through greater flows of capital, trade, and investment.

Nguyen Cong Vinh, deputy chairman of the Ho Chi Minh City administration, said UOB’s decision to establish its new headquarters underscores the bank’s long-term confidence in the city’s investment environment and growth prospects, according to the Vietnam News Agency.

He also commended UOB for helping channel investment into Vietnam, particularly in priority sectors such as infrastructure, high technology, green transition, and innovation.

The growing presence of international financial institutions such as UOB would strengthen the city’s financial ecosystem, deepen global connectivity, and support its ambition to become a regional financial center, he added.

Once UOB Plaza Ho Chi Minh City is completed, UOB will have purpose-built headquarters in all five of its core ASEAN markets: Singapore, Malaysia, Indonesia, Thailand, and Vietnam.

The expanded network will further strengthen the bank’s regional presence and enhance its ability to support clients pursuing cross-border business and investment opportunities across ASEAN.