Oakwood to operate serviced apartments at Singapore mixed-use development

George Sell By George Sell
07 October 2016 | Updated 07 October 2016

Singapore: OUE Limited has signed a management agreement with Oakwood Asia Pacific for the Oakwood Premier OUE Singapore at OUE Downtown.

The management agreement will see Oakwood Asia Pacific operating the new serviced residences at the upcoming OUE Downtown mixed-use development. The property will feature 268 apartments, private dining, a swimming pool, a fitness centre, daily housekeeping, and a concierge.

Dr Stephen Riady, executive chairman of OUE Limited, said: "When it opens in 2017, OUE Downtown will be well-positioned to create a new work-play-live destination in the heart of Singapore's Downtown offering a range of serviced residences, retail and office amenities in the Central Business District. We are pleased to partner with Oakwood to manage the serviced residences at OUE Downtown and bring to life our vision for this exciting new development."

Dean Schreiber, managing director of Oakwood Asia Pacific Ltd, said: "We are delighted to be opening an Oakwood Premier property in our home location of Singapore, and look forward to establishing this as a flagship product in our portfolio of award-winning serviced apartments. The opening of Oakwood Premier OUE Singapore will be our second property in this great city. This has been an amazing year for Oakwood Asia Pacific. Our accelerated pace of development saw us adding 26 percent to the existing portfolio of Oakwood Asia Pacific in 2016 alone, and we expect to continue on this blistering pace over the next few years."

OUE Downtown, which features serviced residences, retail and office space, is scheduled to open in 2017.

JLL Hotels & Hospitality Group acted as advisor to OUE in the operator selection.

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