KUALA LUMPUR: Next year is set to be an exciting year for IGB Corp Bhd as several projects are scheduled to be unveiled, according to PublicInvest Research.
It has maintained its “neutral” rating with an unchanged target price of RM3, pegged at 56% discount to its revalued net asset value estimate and on par with the cash offer from GoldIS.
Following an update from IGB’s management, the research firm noted that Southpoint Tower in Mid Valley City is expected to be completed in the first half of next year due to a change in product mix to one-third residential.
Meanwhile, the RM6bil GDV Mid Valley Southkey project in Iskandar Malaysia is on track to be unveiled by the second half of next year with the grand opening slated for Aug 8.
As for property development, the group’s RM8.4bil GDV mixed-development project in London will see its launch delayed again from year-end to the first half of next year.
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