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Promising earnings outlook for IOI Properties Group

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The group's medium-term earnings outlook is expected to be driven by strong recurring income growth from existing property assets.

RHB Research said IOIProp’s property asset portfolio may be worth RM19bil to RM20bil in value, including Central Boulevard. 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 could be a catalyst in the longer term, says RHB Research.

“Although management did not confirm this during our recent virtual meeting, it was reported that Morgan Stanley is in advanced discussion to take up five floors in Central Boulevard, which would be completed by end-2023. Based on its rough estimate, RHB Research said IOIProp’s property asset portfolio may be worth RM19bil to RM20bil in value, including Central Boulevard.

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