OUE Real Estate Investment Trust (OUE REIT) on Oct, 2 2026 released the minutes of its extraordinary general meeting held on Sep, 4 2026 at Hilton Singapore Orchard.

At the meeting, unitholders endorsed an ordinary resolution to proceed with the proposed divestment of the 575-room Crowne Plaza Changi Airport hotel for 500 million Singapore dollars, an interested person and interested party transaction that also involves terminating the existing master lease agreement.

Voting was conducted by electronic poll, with 1,029.90 million units represented. The resolution was carried with 1,016.04 million units (98.65 %) cast in favour and 13.86 million units (1.35 %) against.

Net cash proceeds of about 498.5 million Singapore dollars are expected, after estimated divestment costs of about 1.5 million Singapore dollars. The manager plans to use 20 million Singapore dollars of the proceeds for special distributions to unitholders over two years, while the balance may be applied towards debt repayment, future acquisitions, asset enhancement initiatives or other capital management purposes.

The divestment price represents a 1.3 % premium to the average of two independent valuations of 493.5 million Singapore dollars. Independent valuers JLL and Cushman & Wakefield had valued the property at 495 million and 492 million Singapore dollars respectively as of May, 1 2026.

Following completion, OUE REIT’s pro-forma aggregate leverage is projected to improve from 41.5 % to 36.4 %, with net asset value per unit remaining broadly stable at 0.55 Singapore dollars.