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Business Times
3 days ago
- Business
- Business Times
Shaping the next phase of Marina Bay
WHEN IOI Properties Group (IOIPG) first entered the Singapore market in 1996 with the development of the 12-storey IOI Plaza (now known as Singapore Pools Building), it did so with a clear ambition to contribute to Singapore's transformation through bold developments that improve how people live and work. Nearly three decades later, its mark on the city-state is unmistakable. Through strategic joint ventures, IOIPG has established its presence in Singapore with luxury residential developments in Sentosa Cove, followed by the award-winning integrated development, South Beach. These developments reflected the company's early confidence in Singapore's long-term potential. Most recently, IOIPG deepened its footprint in Singapore through the full acquisition of the South Beach development – a significant strategic expansion that complements its growing portfolio in the city's downtown core. Now, IOI's vision comes to life at Marina Bay, where IOI Central Boulevard Towers and W Residences Marina View – Singapore anchor its ambitions for the district and the long-term commitment to shaping distinctive, globally resonant developments in Singapore. South Beach, an iconic award-winning integrated development. Under the visionary leadership of Group CEO Lee Yeow Seng, IOI Properties Group continues to shape Singapore's urban landscape with a focus on innovation and sustainability. Reflecting on the company's growing presence, he shares, 'Our goal is to redefine Singapore's skyline with timeless developments – spaces that bring communities together, promote well-being, and champion environmental responsibility. Marina Bay embodies our unwavering confidence in Singapore's future, as we strive to create not just buildings, but lasting contributions to the city's identity and the lives of its people.' Redefining the modern workplace IOI Central Boulevard Towers, the Group's flagship commercial development in Singapore, realises its bold vision for a transformative commercial landmark in the heart of the city. It was conceived as a people-first, sustainability-led project that could support Singapore's ambitions to transform Marina Bay into a fully integrated live-work-play precinct. Comprised of two towers atop a seven-storey podium, the development supports IOI's broader belief that workplaces should inspire, connect and support the people who use them daily. The two towers at IOI Central Boulevard Towers atop a seven-storey podium. Importantly, wellness was embedded into the project's design from day one. At the heart of this is Central Green, the Level 7 sky garden at IOI Central Boulevard Towers. This lush, multifunctional space reflects IOI's broader commitment to creating green and liveable work environments. Offering panoramic views, Central Green is the CBD's first elevated garden with a 200-metre jogging track. More than a visual feature, the garden is designed to reduce stress, enhance productivity, and bring a sense of balance to the workday. Office workers are increasingly embracing 'walking meetings' along the track, choosing to step away from traditional boardrooms for more dynamic, open-air conversations. Surrounded by greenery and fresh air, these informal strolls encourage creative thinking, foster collaboration, and offer a refreshing alternative to the confines of a conventional meeting room. Biophilia is a key feature of the development. 'We see this as part of a broader effort to support Singapore's ambition of creating green, liveable work environments. It's a lifestyle experience, not just a place to clock in and out,' says Shawn Chang, General Manager of Property Development at IOI Properties Singapore. In addition to lush landscaping, IOI Central Boulevard Towers integrates lifestyle conveniences such as a diverse mix of retail, dining, and childcare offerings, all contributing to a more holistic and engaging work environment. The development also improves overall connectivity in the area through elevated link bridges and an underground pedestrian network that provide a seamless link to major transport nodes and nearby buildings. Elevated link bridges seamlessly enhance connectivity across the district. Greener by design From a sustainability standpoint, IOI Central Boulevard Towers meets the highest benchmarks. The project achieved both BCA Green Mark Platinum certification for environmental performance and WiredScore Platinum certification for its energy-efficient digital infrastructure. 'Securing the BCA Green Mark Platinum was no small feat, especially given the scale and density of the project. One of our core challenges was balancing performance-driven building systems with a high-quality user environment,' says Chang. To meet these targets, IOI invested early in high-efficiency infrastructure, including regenerative lifts and escalators, LED lighting with motion sensors, and high-performance facades. These features are expected to reduce carbon emissions by over 19,000 tonnes annually, the equivalent of removing more than 17,000 cars from Singapore's roads. The development also delivers the kind of user experience that meets the needs of today's global businesses. Anchor tenants, Amazon and Morgan Stanley, as well as other multinational corporations from legal, financial services, pharmaceutical and technology sectors, all drawn to the flexibility of the generous column-free and regular central-core layouts. 'It's not just about scale, but about how the entire ecosystem enables flexibility, wellness, and collaboration,' says Chang. To ensure digital readiness, the development was purpose-built to support the changing demands of modern businesses, with features such as secure Wi-Fi and diverse entry points to telecommunications rooms with backup generators that ensure uninterrupted digital services for tenants. IOI Central Boulevard Towers was designed with future technology in mind, minimising the need for retrofits and ensuring a seamless, high-performance digital experience for tenants as their connectivity needs evolve. For global firms operating in Singapore's business district, such infrastructure delivers both operational assurance and peace of mind. Built through partnership and purpose The project was also a test of resilience and collaboration. Working with the Real Estate Developers' Association of Singapore (REDAS), government agencies, and partners such as Architects 61, KTP Consultants, and Hexacon Construction, the team adopted integrated construction methods aligned with the government's Built Environment Industry Transformation Map. 'Even when Covid-19 posed unprecedented obstacles, our IOI team rose to the challenge with resilience and creativity. Through quick adaptability, recalibrated schedules, and unwavering dedication, they ensured construction progressed with minimal delays, honouring our commitments to quality and timelines,' says Chang. IOI Central Boulevard Towers' multiple access points, comprehensive end-of-trip facilities, pedestrian linkages, and integration with surrounding buildings align with the nation's vision of a car-lite, human-centred city. A new chapter in luxury living If IOI Central Boulevard Towers speaks to the future of work, then W Residences Marina View – Singapore represents the next chapter in luxury urban living. Located at the intersection of Union Street and Marina View, the development is Singapore's first branded residence that is fully integrated with a five-star hotel. The pairing brings hospitality and residential living into one cohesive development. The grand arrival experience for residents and visitors of W Residences Marina View. 'This is a first in Singapore where the integration of a hotel, especially one with a strong positive reputation like W Hotels, elevates the residence because both are tied to a single branding. Residents enjoy access to world class hotel-grade services, but in the privacy of their own homes,' says Chang. Such services include 24/7 access to a dedicated concierge team, valet, in-residence dining, and even bespoke services such as event planning and dog walking, all delivered under the W Hotels' signature WHATEVER/WHENEVER® service philosophy. This redefines residential expectations, merging convenience, exclusivity and lifestyle in one place. Every detail, from architecture to interiors, has also been curated for a discerning audience. IOI worked with award-winning designer Fady Hachem and Architects 61 to blend global design with what works in a local context. Materials, lighting and layout were all chosen to reflect a sophisticated, contemporary sensibility while being functional for day-to-day living. The design features a New York-inspired profile and thoughtfully landscaped public areas, all aimed at creating a distinctive, personalised experience. Both the hotel and residence are fully fitted and seamlessly connected in form and function. 'Buyers are looking closely at everything, from material finishes to how the lobby feels and functions. Fady brought a bold, theatrical approach grounded in storytelling, while Architects 61 delivered contextual intelligence that speaks to how Singaporeans live,' explains Chang. Meeting heightened expectations W Residences Marina View – Singapore's design approach also recognises a shift in luxury living. Today's homeowners are paying closer attention to how a home feels and functions, from thoughtful layouts and meaningful design elements to a sense of connection with the surrounding community. By offering 50 amenities, ranging from spa rooms and a meditation zone to a golf simulator and private dining salons, the development creates layers of experience, inviting residents to engage with their space in meaningful ways. The project's location was also strategic. Situated within walking distance of five MRT lines and flanked by Marina Bay Sands, Gardens by the Bay, and the central business district, W Residences is embedded in thecity's most dynamic waterfront zone. The area is expected to evolve further with the expansion of green corridors, urban plazas and new transport links. The partnership with Marriott International also plays a key role, bringing hospitality-level service into the home. Through Marriott's ONVIA platform, residents enjoy personalised concierge support, Platinum Elite status under the Marriott Bonvoy programme, and preferred rates across over 7,000 hotels worldwide. 'Marriott brings deep experience in managing branded residences, not just operationally, but in understanding what service residents expect at this level,' says Chang. W Residences Marina View – Singapore's alignment between architecture, lifestyle and service is increasingly attractive to well-travelled buyers and investors looking for a distinctive value proposition in Singapore's mature real estate market. 'For IOI, this development builds on our broader ambition to shape lifestyle-centric precincts in Singapore's urban core. W Residences Marina View – Singapore and IOI Central Boulevard Towers are our landmark projects in Marina Bay that create a vibrant, interconnected ecosystem,' says Chang. Where elevated living meets exceptional value Once the domain of an exclusive few, the hotel-managed lifestyle offered by branded residences is now opening its doors to a broader audience and W Residences Marina View – Singapore is leading the way. Without compromising on prime location, build quality, or brand prestige, this rare offering combines the best of private homeownership with five-star hotel living, all under the management of Marriott International – the global leader in branded residences. Attractively priced for its category, the development presents a compelling value proposition in the heart of Marina Bay – Asia's Global Address, offering future residents an unparalleled opportunity to own a trophy asset that performs, appreciates, and endures. Growing with the nation IOI's long-term, future-focused approach to development mirrors Singapore's own urban evolution – one that champions sustainability, connectivity, and innovation. Through its projects in Marina Bay, the Group is actively contributing to the city's continued rise as a global benchmark for integrated, world-class living. IOI's culture is also shaped by its people. The Singapore team is a mix of experienced professionals and global collaborators, all working within a culture of trust and innovation. Says Lorraine Shiow, CEO of IOI Properties Singapore: 'What makes us different is our people. I'm proud of our team of passionate professionals who bring expertise, creativity, and precision to every project.' As Marina Bay evolves into a vibrant live-work-play destination and global financial hub, IOI continues to play a meaningful role in supporting the next phase of Singapore's urban development. 'We're not chasing short-term wins. We're committed to growing with the city, driving better design, and creating places people will take pride in, for decades to come,' shares Shiow. How IOI is reimagining Marina Bay 1. First-of-its-kind integration W Residences Marina View is Singapore's first branded residence fully integrated with a five-star hotel. Residents enjoy world-class hotel-grade services delivered by W Singapore, including 24/7 concierge, valet, in-residence dining, and spa access. 2. Wellness at work IOI Central Boulevard Towers features Central Green, the CBD's first sky garden with a 200m jogging track, outdoor meeting pods, and a rooftop restaurant. The 60,000 sq ft of green space supports physical and mental wellbeing. 3. Sustainability in action Both developments are certified BCA Green Mark Platinum. 4. Designed for the futureBoth developments are embedded in a pedestrian-friendly network and situated minutes from key MRT lines, with connectivity built into their design. They are also integrated into the Marina Bay District Cooling System – the world's largest underground network of its kind. 5. Shaping an urban ecosystem Together, W Residences Marina View – Singapore and IOI Central Boulevard Towers form a connected node within Marina Bay, helping to shape the district's transformation into a vibrant city centre where people can live, work and unwind. Key features at a glance IOI Central Boulevard Towers Over 60,000 sq ft of green space CBD's first elevated jogging track Certified BCA Green Mark Platinum and WiredScore Platinum Floor plates up to 70,000 sq ft Direct access to four MRT stations Childcare centre, retail, F&B and end-of-trip facilities W Residences Marina View – Singapore
Business Times
02-07-2025
- Business
- Business Times
IOI starts previews for 683-unit W Residences Marina View luxury project
[SINGAPORE] IOI Properties Group, which began marketing its luxury-branded residences project W Residences Marina View Singapore in late June, is expected to book sales on Jul 12. Located in Marina View, the 683-unit project will sit atop the 360-room W hotel, the Marriott group's second W hotel in Singapore after the one on Sentosa, called W Singapore Sentosa Cove. The project is next to the Shenton Way MRT on the Thomson-East Coast line. In response to queries from The Business Times, IOI said: 'The private preview for invitees presents a rare opportunity to experience first-hand the exceptional value this development brings to the branded residences market. This is achieved without compromising on quality, prime location or the exclusive privileges synonymous with the W brand, managed by Marriott International – the global leader in branded residences.' The marketing materials seen by BT indicate that the 99-year leasehold development comprises 171 one-bedroom units, 310 two-bedroom units, 103 three-bedroom units, 32 four-bedroom units, 64 five-bedroom units, two simplex penthouses and one duplex penthouse. Listings on PropertyGuru show that one-bedroom units, at 538 to 570 sq ft in size, start at over S$2.1 million. The two-bedroom units, at 710 to 850 sq ft, are expected to be priced from S$2.8 million, and the three-bedders, at 1,195 to 1,249 sq ft, from S$5.4 million. The four-bedders spanning 2,250 sq ft start at S$13 million, and the five-bedders, at 2,809 sq ft, are listed for sale from S$16 million. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up On a per-square-foot (psf) basis, prices are estimated to range from about S$3,800 to around S$6,000 psf. Prices are not available for the penthouses, but BT understands that each penthouse is above 5,000 sq ft in size. W Residences Marina View Singapore is expected to achieve its Temporary Occupation Permit in 2029. In 2021, IOI was the sole bidder for the white site, which it bought for S$1.508 billion or S$1,379 psf ppr, after triggering the release of the plot from the government land sales reserve list. IOI's bid was just S$101 more than the minimum price it committed to paying when it applied for the site. The site was estimated to be able to supply 905 private housing units and 540 hotel rooms. In June 2022, IOI received provisional permission for a 307-room hotel, 748 apartments for sale and 2,000 sq m in gross floor area of retail space on the land parcel. Market talk had it that in 2023, the developer tweaked plans for the project, reducing the number of apartments to 683, and raising the number of hotel rooms to 360. This followed the government's rolling out of a set of cooling measures in April that year, including sharply higher ABSD (Additional Buyer's Stamp Duty) rates for foreign buyers and investment buyers. Last year, IOI completed the Grade-A IOI Central Boulevard Towers, a mixed-use development in Marina Bay nearby, which comprises two Grade-A office towers and a seven-storey retail podium. One of Malaysia's largest property developers, IOI recently announced plans to acquire the remaining 50.1 per cent stake in the South Beach development it built with its joint venture partner, City Developments (CDL). IOI's portfolio of high-end residential properties also include Seascape and Cape Royale, condominium developments in Sentosa Cove which were developed in partnership with Ho Bee Land. The W Residences is the second residential project to be launched in the Marina area. In April 2025, One Marina Gardens in Marina South sold 353 units or about 38 per cent of its 937 units over its launch weekend, amid concerns about a trade war and potential global recession intensifying. The units were sold at an average selling price of S$2,953 psf. W Residences Marina View Singapore's launch comes in a month in which at least seven major projects are expected to come onto the market, several of which will also be in the Core Central Region (CCR). On Wednesday (Jul 2), Frasers Property and Sekisui House opened The Robertson Opus along Unity Street for a private preview. Prices there start at S$3,150 psf.
Malaysian Reserve
05-06-2025
- Business
- Malaysian Reserve
IOI Properties retains Neutral, target price lowered to RM1.79
IOI Properties Group Bhd announced the acquisition of remaining 50.1% stake in South Beach project in Singapore from its joint venture partner for S$834.22m or equivalent to RM2.75b. We are neutral on the acquisition as it is expected to increase net gearing of IOI Properties Group to 0.87x from current elevated net gearing of 0.75x. We make no changes to our earnings forecast but revise our target price lower to RM1.79 from RM1.84 after widening revaluation net asset value discount in view of the elevated net gearing. Maintain Neutral on IOI Properties due to limited catalyst in the near-term. – MIDF Amanah Investment Bank Bhd (June 5, 2025) (Calls by analysts tracked by Bloomberg: 5 Buy, 2 Hold, 1 Sell; Consensus target price: RM2.47)
The Star
28-05-2025
- Business
- The Star
IOI Properties Group adds significant contributions to a greener built environment
PUTRAJAYA: IOI Properties Group Bhd (IOIPG) has received prestigious Green Building Index (GBI) certifications for several of its prominent developments at its headquarters, IOI City Tower 2 in IOI Resort City here. IOI City Towers 1 and 2, featuring a combined 968,000 sq ft of net lettable area (NLA), have achieved a Silver rating, whilst the 1 million sq ft NLA IOI City Mall Phase 2 and the 480-room Moxy Putrajaya have both secured Certified ratings under their respective GBI Non-Residential New Construction tools. To witness this milestone, these certifications were presented by Green Building Index (GBI) chief executive officer Sarly Adre Sarkum and witnessed by property development (central region) director Ho Kwok Wing and P I Architect principal Datuk Tan Pei Ing, whose expertise contributed significantly to the design and construction of these IOI Properties Group flagship developments. This recognition reflects the group's unwavering dedication to integrating environmentally responsible practices and features into its commercial and hospitality offerings. 'The upgrading of GBI certification to Silver for our IOI City Towers and the addition of two new GBI certifications for Moxy Putrajaya and IOI City Mall Phase 2, making it the largest GBI-certified mall in Malaysia, reflects the group's unwavering commitment to a greener built environment,' said IOIPG chief operating officer (property investment) Chris Chong. "IOI Properties Group's achievements stand as a powerful example of a forward-thinking and responsible property developer,' said Sarly. 'At Green Building Index, we are proud to be part of this journey. It is especially inspiring to see sustainability embraced at such a large scale - where the greatest impact on the environment and ESG performance is made. 'Congratulations to IOIPG for not just meeting the standard, but going above it. May this milestone inspire the industry to build boldly and more sustainably for our future.' IOI City Towers, serving as IOI Properties Group's headquarters, has achieved a prestigious GBI Silver rating this year, a significant upgrade from its 2021 Certified rating. This advancement clearly demonstrates the group's ongoing commitment to expanding its green office building portfolio. These two premium Grade A office towers are designed for exceptional energy efficiency, boasting a remarkably low Building Energy Intensity (BEI) of just 107.91 kWh/year/m². This impressive efficiency is driven by increased awareness among occupants and management, complemented by heat-reducing performance glass and the continuous use of high-efficiency chillers. A robust Energy Management System (EMS) actively monitors building performance, with a Maximum Demand Limiting programme further optimising energy usage. Prioritising occupant comfort, the towers adhere to American Society of Heating, Refrigerating, and Air Conditioning Engineers (ASHRAE) standards. They feature carbon dioxide (CO2) sensors for optimal fresh air intake, energy-efficient LED lighting that intelligently adjusts to daylight and movement via Passive Infrared (PIR) sensors and effective noise attenuation for a quieter environment. The use of Low Volatile Organic Compound (VOC) paint and low formaldehyde products also ensure healthier indoor air quality. Beyond these core elements, the towers incorporate several other innovative sustainable features contributing to their GBI Silver status: > These include priority parking and charging docks for green vehicles, promoting sustainable transportation; > Water wastage is minimised through fire system water testing recycling, while regenerative drive elevators recover energy, boosting overall efficiency; > To ensure tenant well-being, a post-occupancy comfort survey is conducted; > A parking guidance system reduces vehicle idling time and associated emissions and a thermal mass storage system helps maintain stable indoor temperatures, further contributing to energy savings. This comprehensive approach, integrating advanced energy-efficient systems, robust water management and sustainable operations, continually raises the bar and reflects IOIPG's steadfast dedication to environmental excellence and innovation. IOI City Mall Phase 2 launched with 1 million sq ft of NLA (Net Lettable Area), significantly extending the already well-designed IOI City Mall Phase 1. This expansion brought the total NLA of IOI City Mall to 2.5 million sq ft, making it the largest mall in Malaysia. Achieving a Certified Green Building Index (GBI) under the Non-Residential New Construction: Retail (NRNC: Retail) tool for Phase 2 underscores the group's dedication to sustainable developments. The group's flagship retail mall boasts low energy consumption, reflected by a BEI value of 302.65 kWh/m²/year. This efficiency comes from carefully designed glass, walls, and roofs that minimise heat transfer. High-efficiency Air-Conditioning and Mechanical Ventilation (ACMV) systems and energy-efficient LED lighting with smart zoning also contribute significantly. The mall's entire cooling load is uniquely served by a Thermal Energy Storage (TES) System. This TES system has a charged capacity of up to 270,000 RTH (Refrigeration-Ton Hour) per year and can cool both IOI City Mall Phase 2 and Moxy Putrajaya. All cooling units are equipped with Pressure Independent Balancing Valves (PIBCV) for precise control. Among others, a sophisticated EMS, it oversees all Mechanical and Electrical (M&E) services, allowing for continuous assessment and identification of energy-saving opportunities. Beyond internal systems, the mall integrates robust sustainable site and resource practices. The GBI certification for IOI City Mall Phase 2 is a clear demonstration of the group's forward-thinking approach to retail development. By seamlessly integrating significant energy savings, advanced cooling solutions, superior indoor environmental quality and comprehensive site sustainability, the mall sets a new benchmark for large scale, environmentally responsible retail spaces in Malaysia. Moxy Putrajaya, the first hotel launched under the Moxy brand in South-East Asia with 480 rooms, is a proud addition to the group's portfolio of green certified assets. Moxy Putrajaya, a 19-storey hotel directly linked to IOI City Mall, has achieved a Certified GBI under the GBI Non-Residential New Construction: Hotel (NRNC: Hotel) tool. This certification highlights the group's dedication to providing a sustainable hospitality experience. Moxy Putrajaya features sustainable site and resource practices such as: > Greeneries and low Solar Reflectance Index (SRI) value hardscaping reduce the urban heat island effect; >Reused, recycled content and regional materials were incorporated during construction; >Recycling bins are available throughout the hotel and the hotel management team conducts proper recycling to reduce the amount of waste channelled to landfills; > Additionally, water-efficient fittings are installed throughout the hotel to minimise potable water consumption. By prioritising energy efficiency, guest comfort, and responsible resource management, the hotel exemplifies a modern, sustainable approach to leisure and business travel. 'IOIPG's dedication to creating healthier, more efficient spaces aligns perfectly with Malaysia's drive towards a low-carbon economy. 'IOIPG is actively growing its green assets, with a strategic target for its new office buildings in Malaysia to be GBI-certified by FY2030. 'As of FY2024, nearly 45% of the group's owned and managed office buildings in Malaysia have already achieved GBI certification. This strategic focus positions our developments favourably to the increasing demand for green offices and retail spaces from leading multinational companies and Government-linked institutions,' added Chong. Among others, the group's portfolio of developments consistently integrates a wide range of sustainable features, including Malaysia's largest mall-based solar PV system with a capacity of 4,005 kWp and the utilisation of a TES system to optimise energy use. Passive design strategies, such as high-performance glazing, reflective materials and skylights, further reduce energy consumption and enhance comfort. Water conservation is addressed through rainwater harvesting, and efficient plumbing, whilst sustainable materials and waste management systems support a circular economy. IOIPG's consistent pursuit of green building certifications, as exemplified by these flagship developments, directly embodies the group's strategic vision. IOIPG is actively participating in Malaysia's green transformation, shaping the landscape and demonstrating a profound and tangible commitment to a low-carbon and resource-efficient future for the nation.
