UOA and CapitaLand to form a $247m joint venture.

United Overseas Australia, a property development and investment company, and CapitaLand, a real estate investment company, agreed to form a $247m joint venture. The proposed project is a mixed-use development in Vietnam with an initial proposal consisting of the construction of 4 high rise towers comprising residential, commercial and retailspace, 1 medium rise tower comprising residential and retail space and 2 low rise towers comprising residential space.