OUE REIT Confirms IOI Properties and CapitaLand in Talks for One Raffles Place Stake
9 October 2026 · PropertySpy Research
OUE REIT has confirmed exploratory discussions with IOI Properties and CapitaLand regarding a potential transaction involving Raffles Place landmark One Raffles Place.
Key Takeaways
OUE REIT's manager has confirmed that preliminary discussions are underway involving IOI Properties Group and CapitaLand regarding a potential stake transaction in One Raffles Place, one of Singapore's most recognizable Grade A commercial complexes. While the manager noted that no binding agreement has been reached yet, the talks spotlight surging institutional interest in core Raffles Place office assets.
Sitting directly above the Raffles Place MRT interchange, One Raffles Place comprises two office towers and a six-storey retail podium. While global office markets in the US and Europe continue to grapple with structural vacancy, Singapore's core CBD Grade A office market remains tightly supplied, supported by wealth management, legal, family office, and regional headquarters demand.
"When blue-chip sponsors like CapitaLand and IOI circle a Raffles Place icon, it confirms that prime Singapore Grade A office space remains the crown jewel of Asian commercial real estate." — PropertySpy Market Note
For IOI Properties—which recently completed IOI Central Boulevard Towers and is advancing the redevelopment of Shenton House—a stake in One Raffles Place would further cement its position as one of Singapore's largest prime CBD landlords.
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Institutional confidence in Raffles Place and Marina Bay filters directly into surrounding strata office buildings and conservation shophouses in District 1 and 2. Investors evaluating strata office floors or CBD shophouses can connect with PropertySpy to benchmark current PSF entry prices against institutional replacement values.
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