IOI Properties acquires Xiamen land for RM1.4b after competitive bidding

Logo of IOI Properties Group Bhd

IOI Properties Group Bhd has successfully acquired a 6.2-acre leasehold land in Xiang An central business district, Xiamen, China, for RMB2.324 billion after competitive bidding by the Xiamen Bureau of Land Resources and Real Estate Management.

In a filing with Bursa Malaysia today, IOI Properties confirmed that the land was acquired through IOI (Xiamen) Properties Co Ltd (IOIPG), it’s 99.8% owned subsidiary.

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