OUE explores commercial REIT listing in Singapore
SINGAPORE, Sept 26
SINGAPORE, Sept 26 (Reuters) - Property firm Overseas Union Enterprise Ltd said it is exploring the listing of a commercial real estate investment trust in Singapore, a plan coming on the heels of its recent hospitality trust listing in July.
The initial portfolio of the proposed REIT could include OUE Bayfront, an 18-storey office building in the city's downtown area, and other commercial properties owned by Lippo China Resources Ltd, OUE said in a filing late on Wednesday. It did not disclose the size of the planned REIT.
OUE, which is backed by Indonesian tycoon Stephen Riady, raised $476 million through the listing of its hotel and a shopping mall in a hospitality trust in July. (Reporting by Saeed Azhar; Editing by Stephen Coates)