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OCBC bank explores redevelopment of its Singapore centre property

Reuters SG
·1-min read

SINGAPORE, April 3 (Reuters) - Singaporean bank Oversea-Chinese Banking Corporation Ltd (OCBC) said on Wednesday it is exploring the redevelopment of its Chulia Street property, which is situated in the city-state's central business district.

The comment made in a stock exchange filing confirmed an earlier report in The Business Times.

"OCBC Bank wishes to announce that we are exploring the redevelopment of 63, 65 Chulia Street and 18 Church Street to rejuvenate a strategic area in the central business district," the bank said.

OCBC, which is Singapore's second largest bank, added that any redevelopment plans being explored will include preserving the heritage of its headquarter office OCBC Centre, a landmark building in Singapore and Southeast Asia.

"There is no certainty that any plans explored will result in any redevelopment, transaction or other options," it added.

(Reporting by Yantoultra Ngui Editing by Tomasz Janowski)