OUE REIT expands office space with 2,100 sq m Bayfront conversion

The $43m project is expected to deliver over 11% ROI.

OUE Real Estate Investment Trust (OUE REIT) said OUE Bayfront has obtained planning approval to convert its Level 17 chiller system area into office space, with completion expected by the first half of 2027, according to a press release filed with the Singapore Exchange.

The conversion will free up more than 2,100 square metres of gross floor area and is expected to generate additional rental income, the manager said.

The project is estimated to cost up to $43m and is expected to deliver a stabilised return on investment exceeding 11.0%.

OUE REIT said OUE Bayfront began work in 2025 to connect to the District Cooling System (DCS), which will replace the existing chiller system and enable the conversion of the space.

The manager added that the project will be funded through existing loan facilities and is not expected to have a material effect on the net tangible assets or aggregate leverage of OUE REIT and its subsidiaries for the financial year ending 31 December.

Follow the link for more news on

OUE REIT Management Pte. Ltd.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia