OUE to sell Oakwood serviced residences for S$289m

Singapore

PROPERTY developer OUE has inked agreements to sell Oakwood Premier OUE Singapore, its luxury serviced residences and hotel business in Shenton Way, for S$289 million.

The buyers are joint venture firms formed by Hong Kong financial services firm AMTD Group and hotel operator Dorsett Hospitality International. Dorsett is wholly owned by Hong Kong-listed property giant Far East Consortium International (FEC).