Healthway Medical to lease OUE Downtown 2 units from OUE subsidiary

SINGAPORE (Dec 1): Healthway Medical Corporation (HMC) has signed a master lease agreement with Alkas Realty, a wholly-owned subsidiary of OUE Limited, to lease units #10-09 and #10-09A of OUE Downtown 2 at Shenton Way for office use.

Under the master lease agreement, the term comprises a total period of 36 months from Aug 1 to 31 July, 2020. This includes a rent-free period of four months between Aug 1 and Nov 30.

The premises occupy a floor area of 687 sqm and will be leased out to HMC at $85.04 psm, including service charge. After factoring in the rent-free period, the effective rental rate would be $75.59 psm. A refundable security deposit amounting to three months of the rental is payable by HMC upon its entry into the master lease agreement.

---

Related Stories

• OUE issues $150 mil green notes due 2029 at 4.0%
• OUE expected to record a loss for 1HFY2024 mainly due to estimated losses from 25.2%-owned investee company
• OUE awarded tender for lease and development of new hotel at Changi Airport Terminal 2

---