Latest news with #IOIPropertiesGroup
Business Times
02-07-2025
- Business
- Business Times
IOI starts previews for 683-unit W Residences Marina View luxury project
[SINGAPORE] IOI Properties Group, which began marketing its luxury-branded residences project W Residences Marina View Singapore in late June, is expected to book sales on Jul 12. Located in Marina View, the 683-unit project will sit atop the 360-room W hotel, the Marriott group's second W hotel in Singapore after the one on Sentosa, called W Singapore Sentosa Cove. The project is next to the Shenton Way MRT on the Thomson-East Coast line. In response to queries from The Business Times, IOI said: 'The private preview for invitees presents a rare opportunity to experience first-hand the exceptional value this development brings to the branded residences market. This is achieved without compromising on quality, prime location or the exclusive privileges synonymous with the W brand, managed by Marriott International – the global leader in branded residences.' The marketing materials seen by BT indicate that the 99-year leasehold development comprises 171 one-bedroom units, 310 two-bedroom units, 103 three-bedroom units, 32 four-bedroom units, 64 five-bedroom units, two simplex penthouses and one duplex penthouse. Listings on PropertyGuru show that one-bedroom units, at 538 to 570 sq ft in size, start at over S$2.1 million. The two-bedroom units, at 710 to 850 sq ft, are expected to be priced from S$2.8 million, and the three-bedders, at 1,195 to 1,249 sq ft, from S$5.4 million. The four-bedders spanning 2,250 sq ft start at S$13 million, and the five-bedders, at 2,809 sq ft, are listed for sale from S$16 million. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up On a per-square-foot (psf) basis, prices are estimated to range from about S$3,800 to around S$6,000 psf. Prices are not available for the penthouses, but BT understands that each penthouse is above 5,000 sq ft in size. W Residences Marina View Singapore is expected to achieve its Temporary Occupation Permit in 2029. In 2021, IOI was the sole bidder for the white site, which it bought for S$1.508 billion or S$1,379 psf ppr, after triggering the release of the plot from the government land sales reserve list. IOI's bid was just S$101 more than the minimum price it committed to paying when it applied for the site. The site was estimated to be able to supply 905 private housing units and 540 hotel rooms. In June 2022, IOI received provisional permission for a 307-room hotel, 748 apartments for sale and 2,000 sq m in gross floor area of retail space on the land parcel. Market talk had it that in 2023, the developer tweaked plans for the project, reducing the number of apartments to 683, and raising the number of hotel rooms to 360. This followed the government's rolling out of a set of cooling measures in April that year, including sharply higher ABSD (Additional Buyer's Stamp Duty) rates for foreign buyers and investment buyers. Last year, IOI completed the Grade-A IOI Central Boulevard Towers, a mixed-use development in Marina Bay nearby, which comprises two Grade-A office towers and a seven-storey retail podium. One of Malaysia's largest property developers, IOI recently announced plans to acquire the remaining 50.1 per cent stake in the South Beach development it built with its joint venture partner, City Developments (CDL). IOI's portfolio of high-end residential properties also include Seascape and Cape Royale, condominium developments in Sentosa Cove which were developed in partnership with Ho Bee Land. The W Residences is the second residential project to be launched in the Marina area. In April 2025, One Marina Gardens in Marina South sold 353 units or about 38 per cent of its 937 units over its launch weekend, amid concerns about a trade war and potential global recession intensifying. The units were sold at an average selling price of S$2,953 psf. W Residences Marina View Singapore's launch comes in a month in which at least seven major projects are expected to come onto the market, several of which will also be in the Core Central Region (CCR). On Wednesday (Jul 2), Frasers Property and Sekisui House opened The Robertson Opus along Unity Street for a private preview. Prices there start at S$3,150 psf.
Malaysian Reserve
05-06-2025
- Business
- Malaysian Reserve
IOI Properties retains Neutral, target price lowered to RM1.79
IOI Properties Group Bhd announced the acquisition of remaining 50.1% stake in South Beach project in Singapore from its joint venture partner for S$834.22m or equivalent to RM2.75b. We are neutral on the acquisition as it is expected to increase net gearing of IOI Properties Group to 0.87x from current elevated net gearing of 0.75x. We make no changes to our earnings forecast but revise our target price lower to RM1.79 from RM1.84 after widening revaluation net asset value discount in view of the elevated net gearing. Maintain Neutral on IOI Properties due to limited catalyst in the near-term. – MIDF Amanah Investment Bank Bhd (June 5, 2025) (Calls by analysts tracked by Bloomberg: 5 Buy, 2 Hold, 1 Sell; Consensus target price: RM2.47)
The Star
28-05-2025
- Business
- The Star
IOI Properties Group adds significant contributions to a greener built environment
PUTRAJAYA: IOI Properties Group Bhd (IOIPG) has received prestigious Green Building Index (GBI) certifications for several of its prominent developments at its headquarters, IOI City Tower 2 in IOI Resort City here. IOI City Towers 1 and 2, featuring a combined 968,000 sq ft of net lettable area (NLA), have achieved a Silver rating, whilst the 1 million sq ft NLA IOI City Mall Phase 2 and the 480-room Moxy Putrajaya have both secured Certified ratings under their respective GBI Non-Residential New Construction tools. To witness this milestone, these certifications were presented by Green Building Index (GBI) chief executive officer Sarly Adre Sarkum and witnessed by property development (central region) director Ho Kwok Wing and P I Architect principal Datuk Tan Pei Ing, whose expertise contributed significantly to the design and construction of these IOI Properties Group flagship developments. This recognition reflects the group's unwavering dedication to integrating environmentally responsible practices and features into its commercial and hospitality offerings. 'The upgrading of GBI certification to Silver for our IOI City Towers and the addition of two new GBI certifications for Moxy Putrajaya and IOI City Mall Phase 2, making it the largest GBI-certified mall in Malaysia, reflects the group's unwavering commitment to a greener built environment,' said IOIPG chief operating officer (property investment) Chris Chong. "IOI Properties Group's achievements stand as a powerful example of a forward-thinking and responsible property developer,' said Sarly. 'At Green Building Index, we are proud to be part of this journey. It is especially inspiring to see sustainability embraced at such a large scale - where the greatest impact on the environment and ESG performance is made. 'Congratulations to IOIPG for not just meeting the standard, but going above it. May this milestone inspire the industry to build boldly and more sustainably for our future.' IOI City Towers, serving as IOI Properties Group's headquarters, has achieved a prestigious GBI Silver rating this year, a significant upgrade from its 2021 Certified rating. This advancement clearly demonstrates the group's ongoing commitment to expanding its green office building portfolio. These two premium Grade A office towers are designed for exceptional energy efficiency, boasting a remarkably low Building Energy Intensity (BEI) of just 107.91 kWh/year/m². This impressive efficiency is driven by increased awareness among occupants and management, complemented by heat-reducing performance glass and the continuous use of high-efficiency chillers. A robust Energy Management System (EMS) actively monitors building performance, with a Maximum Demand Limiting programme further optimising energy usage. Prioritising occupant comfort, the towers adhere to American Society of Heating, Refrigerating, and Air Conditioning Engineers (ASHRAE) standards. They feature carbon dioxide (CO2) sensors for optimal fresh air intake, energy-efficient LED lighting that intelligently adjusts to daylight and movement via Passive Infrared (PIR) sensors and effective noise attenuation for a quieter environment. The use of Low Volatile Organic Compound (VOC) paint and low formaldehyde products also ensure healthier indoor air quality. Beyond these core elements, the towers incorporate several other innovative sustainable features contributing to their GBI Silver status: > These include priority parking and charging docks for green vehicles, promoting sustainable transportation; > Water wastage is minimised through fire system water testing recycling, while regenerative drive elevators recover energy, boosting overall efficiency; > To ensure tenant well-being, a post-occupancy comfort survey is conducted; > A parking guidance system reduces vehicle idling time and associated emissions and a thermal mass storage system helps maintain stable indoor temperatures, further contributing to energy savings. This comprehensive approach, integrating advanced energy-efficient systems, robust water management and sustainable operations, continually raises the bar and reflects IOIPG's steadfast dedication to environmental excellence and innovation. IOI City Mall Phase 2 launched with 1 million sq ft of NLA (Net Lettable Area), significantly extending the already well-designed IOI City Mall Phase 1. This expansion brought the total NLA of IOI City Mall to 2.5 million sq ft, making it the largest mall in Malaysia. Achieving a Certified Green Building Index (GBI) under the Non-Residential New Construction: Retail (NRNC: Retail) tool for Phase 2 underscores the group's dedication to sustainable developments. The group's flagship retail mall boasts low energy consumption, reflected by a BEI value of 302.65 kWh/m²/year. This efficiency comes from carefully designed glass, walls, and roofs that minimise heat transfer. High-efficiency Air-Conditioning and Mechanical Ventilation (ACMV) systems and energy-efficient LED lighting with smart zoning also contribute significantly. The mall's entire cooling load is uniquely served by a Thermal Energy Storage (TES) System. This TES system has a charged capacity of up to 270,000 RTH (Refrigeration-Ton Hour) per year and can cool both IOI City Mall Phase 2 and Moxy Putrajaya. All cooling units are equipped with Pressure Independent Balancing Valves (PIBCV) for precise control. Among others, a sophisticated EMS, it oversees all Mechanical and Electrical (M&E) services, allowing for continuous assessment and identification of energy-saving opportunities. Beyond internal systems, the mall integrates robust sustainable site and resource practices. The GBI certification for IOI City Mall Phase 2 is a clear demonstration of the group's forward-thinking approach to retail development. By seamlessly integrating significant energy savings, advanced cooling solutions, superior indoor environmental quality and comprehensive site sustainability, the mall sets a new benchmark for large scale, environmentally responsible retail spaces in Malaysia. Moxy Putrajaya, the first hotel launched under the Moxy brand in South-East Asia with 480 rooms, is a proud addition to the group's portfolio of green certified assets. Moxy Putrajaya, a 19-storey hotel directly linked to IOI City Mall, has achieved a Certified GBI under the GBI Non-Residential New Construction: Hotel (NRNC: Hotel) tool. This certification highlights the group's dedication to providing a sustainable hospitality experience. Moxy Putrajaya features sustainable site and resource practices such as: > Greeneries and low Solar Reflectance Index (SRI) value hardscaping reduce the urban heat island effect; >Reused, recycled content and regional materials were incorporated during construction; >Recycling bins are available throughout the hotel and the hotel management team conducts proper recycling to reduce the amount of waste channelled to landfills; > Additionally, water-efficient fittings are installed throughout the hotel to minimise potable water consumption. By prioritising energy efficiency, guest comfort, and responsible resource management, the hotel exemplifies a modern, sustainable approach to leisure and business travel. 'IOIPG's dedication to creating healthier, more efficient spaces aligns perfectly with Malaysia's drive towards a low-carbon economy. 'IOIPG is actively growing its green assets, with a strategic target for its new office buildings in Malaysia to be GBI-certified by FY2030. 'As of FY2024, nearly 45% of the group's owned and managed office buildings in Malaysia have already achieved GBI certification. This strategic focus positions our developments favourably to the increasing demand for green offices and retail spaces from leading multinational companies and Government-linked institutions,' added Chong. Among others, the group's portfolio of developments consistently integrates a wide range of sustainable features, including Malaysia's largest mall-based solar PV system with a capacity of 4,005 kWp and the utilisation of a TES system to optimise energy use. Passive design strategies, such as high-performance glazing, reflective materials and skylights, further reduce energy consumption and enhance comfort. Water conservation is addressed through rainwater harvesting, and efficient plumbing, whilst sustainable materials and waste management systems support a circular economy. IOIPG's consistent pursuit of green building certifications, as exemplified by these flagship developments, directly embodies the group's strategic vision. IOIPG is actively participating in Malaysia's green transformation, shaping the landscape and demonstrating a profound and tangible commitment to a low-carbon and resource-efficient future for the nation.
