KUALA LUMPUR: IOI Properties Group Bhd
(IOIPG) achieved RM473.6mil in property development sales for the first quarter ended Sept 30, 2025 (1Q26).
In a statement, the property developer said RM384.2mil, or 81% of sales, came from local projects, with the remaining RM89.4mil, or 19%, contributed by its projects in China.
In Malaysia, sales were mainly driven by the Klang Valley at RM243.4mil, led by the group’s matured 16 Sierra township in Puchong South and its new Senna Puteri development in Salak Tinggi, Sepang.
Meanwhile, the Johor region contributed RM141.7mil, supported by the Bandar Putra Kulai and Taman Kempas Utama townships.
IOIPG’s property investment segment remained resilient, supported by high occupancy across its malls and offices, with IOI City Mall Phase 2 delivering stronger-than-expected performance and IOI City Tower One now fully committed.
The hospitality and leisure segment also benefited from Malaysia’s robust tourism sector, with strong hotel occupancy and room rates expected to receive a further boost ahead of Visit Malaysia 2026.
Despite a subdued economic outlook in China, the group made steady headway in reducing completed inventories while its investment properties, including the improving Sheraton Grand Xiamen Jimei, continued to deliver stable recurring income.
In Singapore, the easing interest-rate environment and strong 95% leasing momentum at IOI Central Boulevard Towers, together with a one-off remeasurement gain from the South Beach acquisition, are expected to strengthen the Group’s position and recurring income in the market.
In 1Q26, IOIPG’s net profit surged to RM664.3mil, or 12.07 sen per share, compared with RM69.2mil, or 1.26 sen, in the same quarter last year.
The group said the strong performance was primarily attributed to a remeasurement gain of RM502.8mil following the completion of the acquisition of South Beach, as well as the stronger performance of the property development and property investment segments
Its quarterly revenue jumped 40.8% to RM968.7mil from RM687.8mil a year earlier.
IOIPG said the improvement was driven by the robust performance across all three core business segments, with the property development, property investment and hospitality & leisure segments registering notable growth of 47%, 31% and 44% respectively.
“We are pleased to kick off the new financial year on an encouraging note, underpinned by the resilience of our core business segments.
“While challenges in the global economic environment may continue to persist, the favourable interest rate outlook in Singapore and positive outlook of the hospitality sector ahead of Visit Malaysia 2026 augur well for the Group. Barring any unforeseen events, the group’s financial performance for the year is expected to be satisfactory,” group CEO Lee Yeow Seng said.
