IOI Properties Eyes US$760 Million Singapore Deal for Chijmes and Capitol Kempinski

Singapore, 15 October 2026 – Malaysia-listed IOI Properties Group Berhad is in exclusive talks and conducting due diligence to acquire Singapore’s Chijmes lifestyle complex and the nearby Capitol Kempinski hotel, Chief Executive Officer Datuk Lee Yeow Seng said. The hotel has been marketed at about S$600 million, while Chijmes was valued at S$379 million at the end of 2025, giving the two properties a combined reference value of roughly US$760 million, although the final transaction price remains under negotiation.

For investors, the potential acquisition would deepen IOI Properties’ already substantial exposure to Singapore commercial real estate while adding to concerns over leverage. The group’s net debt had risen to 85% of equity at the end of June 2026, making its planned private property fund and asset recycling strategy increasingly important to financing further expansion.