IOI Prop eyes Taipei 101

IOI Properties proposes to buy a stake in the iconic skycrapper Taipei 101 for RM2.7bil.

PETALING JAYA: Property heavyweight IOI Properties Group Bhd (IOI Prop) is making a bold move into the Taiwan real estate as it proposes to buy a stake in iconic skyscraper Taipei 101 for RM2.74bil (NT$25.14bil) at a time when the ringgit is weakening.

The company acknowledged risk factors like fluctuations in currency exchange rates and interest rates that accompanied the proposal on top of any potential political, economic and regulatory changes.