IOI Properties Sets Up New Unit To manage REIT

IOI Properties Group Berhad has incorporated a new wholly-owned subsidiary, IOIPG REIT Management Sdn Bh, to serve as the proposed management company for a real estate investment trust (REIT) that the group is planning to establish and list on the Main Market of Bursa Malaysia.

In a filing with Bursa Malaysia, IOIPG said the proposed REIT establishment and listing remain subject to several conditions, including assessment of the suitability and valuation of properties to be injected, as well as the finalisation of the REIT structure and its terms.

The company has appointed Maybank Investment Bank Berhad and AmInvestment Bank Berhad as joint principal advisers for the exercise.

If successful, the proposed REIT would expand IOIPG’s capital-raising flexibility while unlocking value from its property portfolio. The company is one of Malaysia’s largest property developers with significant holdings in township developments, commercial properties, and investment assets.