Overseas Union Enterprise (OUE) has appointed a chief executive officer for its upcoming hospitality and retail real estate investment trust (Reit), a sign that it may be launching the initial public offering (IPO) soon. Chong Kee Hiong, previously the CEO of CapitaLand's serviced residence arm, The Ascott Ltd, has been named CEO of the proposed OUE Reit. Mr. Chong is said to have begun work at OUE after leaving Ascott May 31, 2013.

As CEO of the OUE Reit, Mr. Chong brings with him an abundance of experience, having been in the hospitality business for 12 years, all of which were served at CapitaLand.