OUE exploring setting up of REIT

Property developer Overseas Union Enterprise (OUE) is exploring the establishment of a real estate investment trust (REIT) on the mainboard of the Singapore Exchange (SGX).

In a filing with the SGX on Thursday, OUE confirmed that it is in “preliminary discussions” with banks.

But the property developer added that details such as the properties to be injected into the REIT, the pipeline assets of the REIT, size of the offering and timeframe are under review.

Earlier reports had speculated that OUE, which owns commercial properties and hotels, was planning a listing of a hospitality REIT in the second half of the year.

OUE’s hotel properties include Mandarin Orchard Singapore, Marina Mandarin Singapore, Crowne Plaza Changi Airport Hotel, Meritus Pelangi Beach Resort & Spa Langkawi, Meritus Mandarin Haikou and Meritus Shantou China.

Source : Channel NewsAsia – 21 Mar 2013

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