IOI Properties Group Berhad (IOIPG) reported a steady revenue of RM2.17 billion for the nine-month period ended March 31, 2025 driven by robust performances in its Property Investment and Hospitality & Leisure segments.
Despite this, profit before tax (PBT) declined 35% year-on-year to RM430.9 million, attributed to higher interest expenses following the commencement of operations at IOI Central Boulevard Towers in Singapore.
The group’s Property Investment segment saw a 56% year-on-year growth, while Hospitality & Leisure surged 84%, offsetting a 26% decline in Property Development revenue.
Group Chief Executive Officer Lee Yeow Seng said, while challenges in the global business environment and trade uncertainties persist, they remain confident that the diversified product offerings, recurring income from property investments, and the favourable outlook of the hospitality segment provide a strong foundation for future growth.
Total sales from the Property Development segment reached RM1.14 billion, with Malaysian projects contributing RM1.02 billion or 90%.
Key contributions came from the Klang Valley (RM641.7 million), led by IOI Resort City and Bandar Puteri Puchong, while Johor projects, including Bandar Putra Kulai and Taman Kempas Utama, added RM367.9 million.
To commemorate 30 years of growth in Johor, IOIPG launched its “30 Years Together” campaign, offering promotional packages and a chance to win international holiday getaways.
The group’s investment properties continue to deliver strong recurring income. IOI City Mall maintains high occupancy and footfall, while IOI City Tower One in Putrajaya has reached nearly full leasing commitment.
In Singapore, IOI Central Boulevard Towers has achieved 80% lease commitments, capitalising on the demand for premium Grade A office space within the Central Business District.
The Hospitality & Leisure segment benefited from the “Visit IOI Resort City” campaign, which integrates IOIPG’s hotels, retail, and attractions under one tourism initiative. This aligns with Tourism Malaysia’s lead-up to Visit Malaysia 2026.
In China, sales improved after price adjustments to completed inventory at IOI Palm International Parkhouse, and the 370-room Sheraton Grand Xiamen Jimei officially opened in March.
The hotel complements IOI Mall Xiamen and IOI Business Park, enhancing the value of IOI Palm City’s 44-acre integrated development.
Meanwhile, construction of W Residences Marina View in Singapore has reached the 10th floor, progressing steadily.
IOIPG remains one of the region’s top developers, recently securing major awards such as The Edge ESG Gold Award, StarProperty All-Stars Award, and Top 10 Developer accolades in both Malaysia and Singapore.
Shahriena Shukri is a journalist covering business and economic news in Malaysia, providing insights on market trends, corporate developments, and financial policies. More about Shahriena Shukri.
