K-REIT to acquire One Raffles Quay

K-REIT Asia proposed to acquire Keppel Land’s one-third stake in One Raffles Quay (ORQ) for about $941.5 mil

- Significant maiden acquisition

- Asset size more than doubles from $677 mil to $1.62 bn

- Net lettable area grows from 786,603 sf to 1.23 mil sf

- Expected to be yield-accretive

Strategically located in new downtown at Marina Bay with direct underground access to Raffles Place MRT station.One of the largest office developments in Singapore with about 1.3 million sf of NLA and 100% committed occupancy. Close to Marina Bay Sands Integrated Resort and Formula 1 night race circuit.

K-REIT is on course to become a Pan-Asian commercial REIT

- Closing in on target Assets Under Management
(AUM) of $2 bn

- Growing the portfolio by identifying and pursuing quality assets in Singapore and other Asian growth cities

- Building on new expanded portfolio to grow asset value

Last done price: $2.84 SGD