SINGAPORE (Dec 11): Malaysia-headquartered property company United Overseas Australia (UOA) said on Monday its Vietnamese unit had inked a joint-venture (JV) agreement with CapitaLand (Vietnam) Holdings for a US$247.1 million (RM1.16 billion) property project.

Under the deal, UOA Vietnam BDC will hold a 30% stake in the JV entity, with CapitaLand (Vietnam) holding the remaining 70%, according to a statement. UOA Vietnam BDC’s share is worth US$74.13 million, it added.

The proposed project would comprise the construction of four high-rise towers, including residential, commercial and retail space, one medium-rise tower with residential and retail areas, and two low-rise residential towers, UOA said.