IOI Prop’s Marina Bay land purchase raises eyebrows

IT is obvious that IOI Properties Group Bhd (IOIPG) was determined and focused in its bid for the Central Boulevard land in Singapore’s Marina Bay area.

It is also “understandable” that the deal raised quite a few eyebrows among shareholders and other parties given its record high quantum for a government land sale site and that it paid 16.29% higher than the second top bidder.