IOI Properties raises REIT development allocation to RM3.07bil
IOI Properties Group has more than doubled the amount set aside for project development and property investment under its Malaysian REIT exercise, to RM3.07 billion from RM1.55 billion. The sum is 66% of the estimated RM4.66 billion in gross proceeds from the proposed disposals and offering for IOIPG REIT, with debt repayment cut to RM1.53 billion.