Summary: CapitaLand Investment and IOI Properties are reportedly nearing a joint-venture acquisition of One Raffles Place for just under S$2.4 billion.
The landmark development comprises two office towers of 62 and 38 storeys, a retail mall and approximately 702,980 sq ft of lettable space. OUE REIT controls an 81.54% interest, while UOB owns the remaining 18.46% and is expected to remain an occupier.
The prospective buyers are reportedly considering a partial redevelopment. The sellers initially sought as much as S$2.5 billion, compared with an end-2025 valuation of approximately S$2.37 billion.
