In an Aug 2 statement, the manager of OUE C-REIT says it expects the AEI to be accretive to distribution per unit (DPU). “With the estimated capital expenditure of up to approximately $14 million, the AEI is expected to generate a stabilised return on investment of approximately 10%.”
OUE Limited and the manager of OUE Commercial REIT (OUE C-REIT) (SGX:TS0U
) have unveiled a $22 million asset enhancement initiative (AEI) for Crowne Plaza Changi Airport (CPCA), expected to complete by end-2023.
Works include the addition of 12 guest rooms to a total room stock of 575 and repurposing a former restaurant space into a 352 sq m function room.
