IOI Properties to Buy Prime Singapore Tower for $2B

IOI Properties Group has acquired a prime Singapore office tower, a real estate services other business in Singapore, for $2 billion. The acquisition expands IOI Properties Group acquisitions in the Singapore CBD, adding to its existing portfolio that includes IOI Central Boulevard Towers and South Beach Tower. The target provides income-generating commercial real estate exposure, supporting the buyer’s real estate services M&A strategy in a core office market. The platform acquisition is announced and structured as a private equity acquisition by the Malaysian billionaire brothers Lee Yeow Chor and Lee Yeow Seng, with deal size over $100M.