UOB Vietnam has started construction on a US$450 million headquarters in Ho Chi Minh City.
The development makes UOB the first foreign bank to develop a purpose-built headquarters within the Vietnam International Financial Centre initiative.
The 36-storey office tower will serve as the bank’s flagship location in the country when it is completed in 2030.
With this investment, UOB will establish its full headquarters footprint across its five core Southeast Asian markets, comprising Singapore, Malaysia, Indonesia, Thailand, and Vietnam.
The bank is positioning the development to support the cross-border trade ambitions of its clients. The project aims to improve connectivity with regional capital and investment flows.
“Vietnam is a key pillar of UOB’s regional strategy,”
said Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB.
“Our new headquarters reflects our confidence in Vietnam’s future and our support for Ho Chi Minh City’s ambition to become an international financial centre.”
The facility, named UOB Plaza Ho Chi Minh City, is located in the Ba Son precinct along the Saigon River.
Architecture firm Gensler designed the building to meet international Grade A specifications and target green building certification.
The bank intends to establish a branch within the emerging financial zone to scale up its services. UOB Vietnam will continue working alongside government agencies and industry stakeholders to contribute to the development of the hub.
The physical expansion supports the bank’s broader efforts to serve its 8.5 million customers across Southeast Asia.
Featured image credit: Edited by Fintech News Singapore, based on image by UOB