SINGAPORE: Talk of consolidation among Singapore real estate investment trusts ramped up after the regulator strengthened rules governing the market in 2015. Four years on, it’s finally happening.
OUE Commercial REIT said on Monday it had agreed to buy OUE Hospitality Trust to create one of Singapore’s 10 biggest REITs, giving the combined entity greater firepower to make acquisitions. It’s also the city-state’s first merger among REITs of different asset classes. (Last year, Warburg Pincus LLC-backed ESR-REIT and Viva Industrial Trust merged to create a larger logistics trust.)