Central Boulevard to drive IOI Properties' earnings

KUALA LUMPUR: IOI Properties Group Bhd's medium-term earnings outlook is expected to be driven by strong recurring income growth from existing property assets while the listing of its investment properties into a real estate investment trust (REIT) will be a share price catalyst in the longer term, said RHB Research.

Following a recent virtual meeting with IOI Properties' management, the research firm said IOI Central Boulevard is likely to have a 50% committed tenancy in Singapore.