OUE Commercial Trust unveils ambitious plans for underperforming One Raffles Place

It will hike rents and improve occupancy.

OUE Commercial Trust is bent on changing things after acquiring an indirect interest in One Raffles Place.

According to CIMB, OUECT's management is set on improving earnings from the property which currently has a net property income (NPI) yield of under 3.5%.

OUECT is focused on increasing occupancy at One Raffles Place, which currently stands at around 85% compared to the 94.9% average of the Grade A office market.

The trust also wants to raise rental rents going forward. One Raffles Place has a passing rent of $9.5-10 psf per month, which compares unfavourably with the average Grade A office rents of $11.4 psf/month.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Strides Premier enhances routing with Autofleet tech
The Singaporean taxi operator will utilise Autofleet’s platform to improve route planning and dispatching.
RGE and Singapore Fashion Council launch ‘Responsible Fashion Scholarship’
It is open for Singaporean citizens or permanent residents in full-time undergraduate or postgraduate programs at recognized institutions.
HR & Education