Lippo Karawaci CEO wants LMIRT to own more non-Lippo assets

Singapore

LIPPO Karawaci CEO John Riady wants what's best for the two real estate investment trusts (Reits) that his company sponsors, even if it means more third-party acquisitions and consolidation with other Reits.

"Consolidation in the Reit space in Singapore has been driven by the desire to scale. I think that's a good objective to the extent that there are opportunities that make sense for our Reits to consolidate," he said, referring also to the recent merger of OUE Commercial Reit and OUE Hospitality Trust.