IOI Properties To Focus More on High End Homes
While most people are of the opinion that the luxury home market is set to slow down slightly this year, and expecting developers to concentrate more on mid-priced homes, IOI Properties is bucking the trend by announcing that they will be focusing more on high end homes this year.
In a report, Malaysia’s largest developer, in terms of market capitalization, announced this move as they foresee a lower demand for mass-market homes. One of the reasons they say is the higher oil prices and higher interest rates that are discouraging entry level buyers.
It was also reported that:
About 65% of its residential property sales are generated from apartments sold for less than RM700,000 with the remaining 35% coming from homes priced higher. In the immediate future, Lee hopes to raise the share in residential sales of high-end homes to 45%.
Reuters Estimates expects IOI Properties to earn net profit of RM300.7 million in the 12 months ended June 30. The company has a market cap of RM757.7 million, and the firm’s profit would be boosted by a RM76 million one-off divestment gain.
For a review of
Development Review: Bandar Puteri, Puchong by the IOI Properties
Eugenia, Bandar Puteri
Lilac (22’ x 75’ linkhouses)
Aseana Puteri (condominiums)
Bayu Puteri (apartments)
Grande View (22’ x 70’ hilltop linkhouses)
