OUE Real Estate Investment Trust renews three-year lease with Healthway Medical for 2.48 million Singapore dollars

SGX Filings

Jul 28

OUE Real Estate Investment Trust has signed a new lease with Healthway Medical Corporation for unit #10-09/09A at OUE Downtown 2.

The agreement runs from Aug, 01 2026 to Jul, 31 2029 and covers about 7,395 square feet. Total rent over the period is set at 2.48 million Singapore dollars, which an independent valuation by Savills Valuation And Professional Services (S) Pte Ltd confirmed to be in line with market rates. The contract includes no option for further renewal.

Because Healthway Medical is considered an associate of OUE REIT’s controlling unitholders Dr Stephen Riady and Mr James Tjahaja Riady, the deal is classified as an “interested person transaction” under Singapore Exchange rules. When aggregated with other related-party transactions this financial year, the total value is about 507.7 million Singapore dollars, or 16.4% of OUE REIT’s latest audited net tangible assets.

Under SGX Listing Manual Rule 916(1), unitholder approval is not required for this lease as its term is under three years and it is supported by an independent valuation.

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