Local media in Singapore have carried reports, citing anonymous sources, that Keppel REIT is looking to sell its stake in Prudential Tower, Singapore for SGD531 million.

There were also reports that Keppel REIT was looking to purchase Keppel Land Limited's one third stake in Marina Bay Financial Centre Tower 3.

Bugis Junction towers is among the older assets of Keppel REIT

While Keppel REIT has issued a statement to clarify that no such sales have been finalized, the REIT has stopped short of denying the reports altogether - preferring to say instead that it does receive offers from time to time for purchases.

Also in response to questions on how Keppel REIT plans to fund future acquisitions, the REIT's manager has stated that it could consider divesting Keppel REIT's older assets. However no mention of exactly which specifics assets these are although REITSWEEK understands that its oldest properties include Prudential Tower.

These clarification statements may be the strongest sign yet that the REIT is seriously looking to divest its stake in Prudential Tower as earlier reported.

Units of Keppel REIT have fallen to its lowest levels in a year, closing the last trading day at SGD1.14.