The 370-room Sheraton Grand Xiamen Jimei, launched on 3 March 2025, marks the Group's first hotel venture in the People's Republic of China (PRC).
PUTRAJAYA: IOI Properties Group Bhd recorded a marginal revenue growth of RM3.06bil for the financial year ended June 30, 2025. This improvement was driven by significant gains in the property investment segments along with the hospitality and leisure segments, which grew by 46% and 70%, respectively, despite a decline in the property development segment.
Profit before tax (PBT) declined by 37% to RM1.45bil due to lower fair value gains from investment properties and increased interest expenses. The group remains resilient amid economic fluctuations.
Sales in the property development segment reached RM1.81bil, with local projects contributing RM1.62bil. The Klang Valley region led sales, driven by developments like IOI Resort City and 16 Sierra.
“In addition to the noteworthy sales performance, the Group’s completed inventories continued to trend downwards, reducing from RM1.92bil to RM1.27bil over the last twelve months. The reduction was primarily attributed to the Group’s concerted efforts in rolling out targeted marketing campaigns and strategic product positioning. The group remains committed to further monetising these inventories to generate immediate cash flow to support the Group’s ongoing development projects,” said group chief executive officer Lee Yeow Seng.
The property investment segment showed stable recurring income from investment properties, notably IOI City Mall and IOI Mall Puchong, while the hospitality and leisure segment benefited from an increase in tourist arrivals, with Malaysia surpassing Thailand as the top Southeast Asian destination.
Despite challenges in the PRC market, the Sheraton Grand Xiamen Jimei has seen a gradual increase in occupancy rates since its opening. In Singapore, IOI Central Boulevard Towers reported a commitment rate of 88%, and construction for W Residences Marina View continues on schedule. IOIPG also announced plans to acquire the remaining stake in the South Beach development.
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