OUE REIT's manager has announced that OUB Centre Ltd, which holds 81.54% of One Raffles Place (ORP) and is an indirect subsidiary of OUE REIT, is conducting an exercise together with United Overseas Bank, which holds the remaining 18.46% interest in the property, to determine market interest for the property.
"The manager wishes to advise that there is no assurance that any binding agreement or any transaction will materialise. The manager will determine the appropriate action in due course taking into account the results of the exercise and the best interests of all unitholders of OUE REIT," the announcement dated Feb 20 says.
OUB Centre Limited’s 81.54% interest in ORP was valued at $1,930 million as at Dec 31, 2025, translating into $2,745 psf. The office capitalisation rate was 3.35% – 3.55% and retail cap rate was 4.43%.
ORP Tower 1 has an 841-year lease from Nov 1, 1985; ORP Tower 2 has a 99-year lease from May 26, 1985; 75% of ORP Shopping Mall's NLA is on a 99-year lease from Nov 1, 1985, and 25% of NLA is on an 841-year lease from Nov 1, 1985.
