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Malaysian Billionaire Brothers' IOI Properties To Buy Prime Singapore Office Tower For $2 Billion [Yahoo! Finance]

Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) 
US:NYSE Investor Relations: mizuho-fg.com/investors/index.html
Company Research Source: Yahoo! Finance
© 2024 Bloomberg Finance LP IOI Properties Group—controlled by Malaysian billionaire brothers Lee Yeow Chor and Lee Yeow Seng —is buying a prime office building in Singapore for S$2.5 billion ($2 billion), expanding its footprint amid a property boom in one of the world's most expensive real estate markets. The Bursa Malaysia-listed developer will acquire 100% stake of Asia Square Tower 2 , located in the center of Marina Bay financial district from CapitaLand Integrated Commercial Trust. The 46-story skyscraper is a premium office building with 72,343 sqm of net leasable space and counts Japan's Mizuho Bank and Germany's Allianz among its key tenants. The acquisition will boost IOI Properties' presence in Singapore's CBD, adding to its portfolio that includes IOI Central Boulevard Towers and South Beach Tower. “This latest acquisition reflects IOI Properties Group's continued conviction in prime Singapore assets, which offer stable recurring income streams supported by strong Show less Read more
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