OUE Limited has announed that it is looking into the possibility of establishing a Commercial REIT made up of its commercial properties in Singapore. The REIT is intended for listing on the Singapore Exchange. The announcement came months after OUE Limted succesfully listed the OUE Hospitality Trust on the same bourse.
|The announcement to establish a Commercial REIT came weeks after OUE listed the OUE Hospitality Trust on the SGX|
Initial properties that will be injected into the REIT include the 18-storey OUE Bayfront which is located at 50 Collyer Quay, Singapore and its ancillary properties comprising of a conserved tower building used for F&B outlets and a link bridge with retail shops.
Besdies OUE Bayfront, commercial properties currently owned by Lippo China Resources Limited are also currently being considered for inclusion into the proposed REIT. Lippo China Resources is a company listed on the Hong Kong Stock Exchange.
OUE has not revealed further details of the proposed size or time line at in which the REIT will take shape, besides giving scant details that the company will take into account prevailing market conditions before making further decisions on the listing of the REIT.
REITSWEEK will be monitoring this development closely and report on further progress should they be available.