IOI Properties Singapore appoints Lorraine Shiow as CEO
Shiow was formerly CEO of Frasers Property, China, wherein she oversaw the group’s non commercial, commercial and logistics business, investments, and business development. She had actually previously held other C-Suite roles at Frasers Property, including COO, executive VP for International Markets, and acting COO for Singapore non commercial development.
With Shiow making the reins at IOI Singapore, the property group is completing its largest assignment in Singapore– IOI Central Blvd Towers, a multi-billion-dollar commercial project with 1.26 million sq ft of Grade-An office across a 16-storey and 48-storey towers and 30,000 sq ft retail and F&B space. The building will even be directly attached to the Downtown MRT Terminal on the Downtown Line.
Besides IOI Central Blvd Towers, the firm has two other properties in downtown Singapore. One is the upcoming 350-key W Singapore – Marina View luxury hotel and 683-unit Marina View Residences.
The other is the redevelopment of Shenton House, in which Lee bought en bloc for $538 million last November. The purpose is to redevelop Shenton House into a mixed-use project with Grade-A workplace and high-end branded serviced households.
IOI Properties Singapore has already selected Lorraine Shiow as chief executive officer, a new established situation for the business, according to the firm in a May 27 statement. The Singapore entity belongs to Bursa Malaysia-listed IOI Properties Team, and Shiow is going to report straight to firm CEO Lee Yeow Seng.
Lentor Hills Residences Lentor Hills Road
As CEO of IOI Properties Singapore, Shiow will definitely drive brand-new approaches to raise productivity, expand the company’s business in the city-state and fortify its reputation as a trustworthy property developer in Singapore.
IOI Properties’ aggregate purchases in Singapore’s CBD total up to around $4.616 billion. The Singapore properties account for 64% of the organization’s total asset profile of $10.35 billion, involving Malaysia and China.
According to the firm, about 50% of workplace at IOI Central Boulevard Towers has already been rented, with anchor renters including technology giant Amazon and international brokerage firm Morgan Stanley. The building is anticipated to create an assessed rental revenue of at the very least $180 million each year, making up 20% of IOI Properties Group’s income.
