Marriott Hotels Included in RM7.66 Billion REIT Listing in Malaysia
What happened
IOI Properties is advancing a RM7.66 billion Real Estate Investment Trust (REIT) toward a year-end listing on Bursa Malaysia. The REIT portfolio includes six Marriott-branded hotels, IOI City Mall, and two office developments. Separately, IOI Properties is acquiring Shenton House in Singapore from its group CEO, Anthony Capuano.
From therakyatpost.com
Why it matters
The REIT listing packages assets belonging to Marriott International, which could increase the financial visibility and liquidity of those properties. The IPO is also expected to increase market activity and liquidity on the national stock exchange.
Marriott International operates properties across various locations in Malaysia, including Putrajaya, Langkawi, Kuala Lumpur, and Johor Bahru.
From therakyatpost.com
Who's involved
- Marriott InternationalHas six branded hotels included in the REIT portfolio listing.
- Bursa MalaysiaIs the national stock exchange where the REIT is being listed.
- Anthony CapuanoIs the group CEO of IOI Properties who is selling a Singapore property.
Keep exploring
The entities involved
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Marriott International
international hospitality company in Bethesda, Maryland, United States
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Malaysia
country in Southeast Asia