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“IOI Properties has revised its proposed REIT exercise after an updated valuation increased its portfolio value to RM7.66 billion, while expanding the retail allocation for investors.”
Kuala Lumpur, 24th July 2026, 02.51pm – IOI Properties Group Bhd (IOIPG) has revised its proposed real estate investment trust (REIT) exercise after an updated independent valuation increased the value of its proposed asset portfolio to RM7.664 billion, while the group also expanded the retail allocation under its proposed unit offering.
In a filing with Bursa Malaysia on Thursday, IOI Properties said the revisions affect its proposed REIT establishment, asset disposals, unit offering, listing and lease arrangements previously announced.
REIT Portfolio Valuation Increased by RM86 Million
Independent property valuer Knight Frank completed an updated valuation of the proposed REIT portfolio based on a material valuation date of May 31, 2026.
The exercise raised the portfolio’s appraised value to RM7.664 billion, representing an increase of RM86 million, or 1.1%, from the previous valuation of RM7.578 billion, which was based on Oct 31, 2025.
According to IOI Properties, the higher valuation was mainly driven by stronger market values for several flagship assets, including:
- IOI City Mall
- IOI City Towers
- PFCC Towers
- Putrajaya Marriott Hotel
- Moxy Putrajaya
The increase was partially offset by lower valuations for Courtyard by Marriott Penang and W Kuala Lumpur.
W Kuala Lumpur Valuation Adjusted
IOI Properties said the valuation of W Kuala Lumpur declined by approximately RM3 million following revised assumptions relating to a proposed lease arrangement.
The adjustment involves an additional 3,649 sq ft improvement area that is currently vacant and does not form part of the hotel’s existing strata titles.
Disposal Price Remains Below Independent Valuation
Despite the higher portfolio valuation, the proposed disposal consideration remains unchanged at RM7.578 billion.
This represents a RM86 million discount, or 1.1%, to the independently appraised value.
The proposed REIT portfolio comprises nine hospitality, office and retail assets:
- IOI City Mall
- IOI City Towers
- PFCC Towers
- Putrajaya Marriott Hotel
- Le Méridien Putrajaya
- Moxy Putrajaya
- Four Points by Sheraton Puchong
- W Kuala Lumpur
- Courtyard by Marriott Penang
Retail Investor Allocation Expanded
Separately, IOI Properties has revised the allocation of units under its proposed offering.
The company increased the allocation of Pink Form Units to 55 million units, up from 23.5 million units, by extending eligibility to selected business associates who have contributed to the group’s growth.
As a result, the allocation available to Malaysian institutional investors, selected investors and foreign institutional investors has been reduced accordingly.
The overall offering size remains unchanged at 2.2 billion units, representing 40% of the REIT’s enlarged issued units.
Following the revision:
- Retail allocation increases to 715.6 million units (13%), from 684.1 million units (12.4%)
- Institutional allocation decreases to 1.484 billion units (27%), from 1.516 billion units (27.6%)
Other Terms Remain Unchanged
IOI Properties said all other terms relating to the proposed REIT establishment, listing, asset disposal and lease arrangements remain unchanged.
The revisions are limited to the updated portfolio valuation and the allocation of units under the proposed offering.
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