“The group is well-positioned to capitalise on the wide range of socio-economic catalysts proposed and planned by the Federal and the local state government, especially the upcoming rail connectivity plans and the proposed JS-SEZ,” adds IOI Properties.
Malaysian developers are set to benefit from the Johor-Singapore Special Economic Zone (JS-SEZ), while Singapore developers are less likely to see much upside. A recent report by UOB Kay Hian pointed out that IOI Properties Group is underperforming compared to peers like Eco World Development Group, UEM Sunrise and SP Setia, which have emerged as the primary beneficiaries of the JS-SEZ.
In an email interview with IOI Properties, the group revealed that it has a remaining landbank of 3,786.7 acres with an estimated gross development value (GDV) of RM7.24 billion ($2.2 billion) in Johor. This landbank consists of well-matured integrated townships and developments such as Bandar Putra Kulai, Bandar IOI Segamat, Taman Kempas Utama, Taman Lagenda Putra Kulai, and The Platino, in addition to its IOI Industrial Park @ Iskandar Malaysia (formerly known as iSynergy).
