OUE Reit looks to unlock value in mature assets, eyes Sydney for higher-yield growth
Proceeds from a potential One Raffles Place sale could fund its further expansion in Sydney’s Salesforce Tower
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[SINGAPORE] OUE Real Estate Investment Trust ( OUE Reit ) is stepping up capital-recycling efforts, as it looks to redeploy proceeds from potential sales of mature Singapore assets into higher-yielding investments such as in Australia.
“We are trying to build a high-performance, capital velocity engine,” said Han Khim Siew, chief executive officer of the manager. “We are not here to collect and run legacy assets into the ground.”
A legacy asset in focus is One Raffles Place, a substantial office property in the Central Business District (CBD), which the Reit is exploring for a potential sale.
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