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OUE to sell Downtown serviced apartments and business for combined $289 mil

Stanislaus Jude Chan
Stanislaus Jude Chan9/19/2019 07:45 AM GMT+08  • 2 min read
OUE to sell Downtown serviced apartments and business for combined $289 mil
SINGAPORE (Sept 19): Real estate group OUE has entered into sale and purchase agreements to sell OUE Downtown Serviced Apartments and its direct wholly-owned subsidiary, OUE Downtown, for a total of $289 million.
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SINGAPORE (Sept 19): Real estate group OUE has entered into sale and purchase agreements to sell OUE Downtown Serviced Apartments and its direct wholly-owned subsidiary, OUE Downtown, for a total of $289 million.

First, indirect wholly-owned subsidiary Alkas Realty has signed an agreement to sell the OUE Downtown Serviced Apartments, together with all plant, machinery and equipment on the property, to DHI Holding for $287.1 million.

At the same time, direct wholly-owned subsidiary OUE Downtown, together with the assets of the business, will be sold to DHI Downtown for $1.9 million.

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