IOI Properties to gain from Singapore private housing boom

“We are cautiously optimistic about the land deal. Apart from the prime location and favourable acquisition price, it is a timely replenishment of IOI Properties’ land bank in Singapore, which will allow the group to benefit from the Singapore private housing boom,” said TA Securities Research in a report.

PETALING JAYA: The recent successful bid by IOI Properties Group Bhd (IOI Properties) to acquire a 0.78 ha leasehold land in Singapore’s Marina View enclave for S$1.51bil (RM4.64bil) will allow the group to replenish its land bank in Singapore.

The bid is a positive move for shareholders, said analysts, as it gives the group further exposure to the property market in Singapore, which is doing well.