OUE REIT confirms exclusive talks over One Raffles Place sale

No binding agreement has been signed as negotiations remain ongoing.

OUE REIT has confirmed that it is in exclusive talks with entities linked to IOI Properties Group and CapitaLand Investment over the potential sale of One Raffles Place.

In a bourse filing on 8 October, the REIT’s manager clarified that negotiations and due diligence by the prospective buyers are ongoing, with no binding sale agreement signed.

The announcement follows a news report that IOI Properties and CapitaLand Investment were conducting exclusive due diligence for the acquisition of One Raffles Place.

OUE REIT's indirect subsidiary, OUB Centre Limited, holds an 81.54% interest in the property, whilst United Overseas Bank (UOB) owns the remaining 18.46%.

In February, the REIT announced that OUB Centre Limited and UOB were jointly conducting an exercise to determine market interest in the property.

The manager said it would make further announcements if there were any material developments, in accordance with Singapore Exchange listing requirements.

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