2635920 - Installing SAP IQ 16.1 SP03 fails with 'Not Enough Disk Space' error

Installing SAP IQ 16.1 SP03 fails with 'Not Enough Disk Space' warning message and one is unable to complete the install
The message displayed is
"This installation requires 1385.78 MB of free disk space, but there are only 15.68 MB available at:
/sapiq/server
Please free at least 1,370.10 MB to proceed with the installation. Otherwise, you may choose 'Cancel' to cancel this installation. "

The 15.68 MB is available space on root '/' whereas target location of install '/sapiq/server' has 20GB free space.

• SAP IQ 16.1 SP03
• Linux on x86_64 64bit 

sybase ; dt ; dynamic tiering ; sp02 ; sp 03 ; upgrade ; installer ; InstallAnywhere ; CR814922 ; CR#814922 ; 814922 , KBA , BC-SYB-IQ , Sybase IQ , HAN-DYT , SAP HANA Dynamic Tiering , Bug Filed