Oxley Holdings confirms in 'negotiations' to buy Chevron House

Real estate developer Oxley Holdings on Monday said it is in negotiations with the owner of Chevron House to acquire the property.

Chevron House in Raffles Place
Chevron House in Raffles Place. Company's website.

Real estate developer Oxley Holdings on Monday said it is in negotiations with the owner of Chevron House to acquire the property.

The company was clarifying to a report in the Business Times on Friday saying Oxley was in advanced stages of stitching up a deal to buy Chevron House in Raffles Place for about S$660 million

Singapore-listed firm said while talks continue, no definitive agreement has been executed with regards to the proposed acquisition.

Chevron House, formerly called Caltex House, has a total of 33 floors, excluding 3 basement levels. Situated in the financial district of Raffles Place, it is close proximity to buildings like Singapore Land Tower, Hitachi Tower, Change Alley and The Arcade.

Shares in Oxley Holdings rose 1.6 percent to S$0.64 on the Singapore Exchange after the lifting of trading halt. The stock has gained 65 percent in an year.

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