Indonesian tycoon Mochtar Riady to sell one of Singapore’s tallest towers
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Indonesian tycoon Mochtar Riady's company, OUE Commercial REIT, is looking to sell One Raffles Place, a prominent skyscraper in Singapore's central business district. The property, valued at up to SGD2.4 billion, includes a 62-storey office tower and a retail podium. OUE REIT holds a 68% stake in the building, valued at SGD1.9 billion. The sale comes amid strong demand for commercial real estate in Singapore, with investment volumes reaching SGD33.9 billion in 2025. The REIT is testing market interest but has not guaranteed any transactions will occur.
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