IOI Properties Singapore appoints Lorraine Shiow as CEO
As Chief Executive Officer of IOI Properties Singapore, Shiow will certainly steer new methods to increase performance, expand the firm’s business in the city-state and fortify its reputation as a respected residential property developer in Singapore.
Shiow was in the past chief executive officer of Frasers Property, China, wherein she managed the group’s residence, commercial and logistics service, investments, and business growth. She had previously held many other C-Suite roles at Frasers Property, involving COO, executive VP for International Markets, and acting COO for Singapore housing growth.
IOI Properties’ accumulated acquisitions in Singapore’s CBD measure up approximately $4.616 billion. The Singapore possessions represent 64% of the organization’s total asset profile of $10.35 billion, including Malaysia and China.
With Shiow making the reins at IOI Singapore, the property group is completing its biggest assignment in Singapore– IOI Central Blvd Towers, a multi-billion-dollar industrial property with 1.26 million sq ft of Grade-A workplace around a 16-storey and 48-storey high rises and 30,000 sq ft retail and F&B space. The building will definitely even be straight connected to the Downtown MRT Station on the Downtown Line.
The other is the redevelopment of Shenton House, that Lee purchased en bloc for $538 million last November. The objective is to redevelop Shenton House right into a mixed-use development with Grade-An office space and luxury branded serviced residences.
IOI Properties Singapore has recently appointed Lorraine Shiow as chief executive officer, a newly created role for the firm, according to the firm in a May 27 news. The Singapore entity is part of Bursa Malaysia-listed IOI Properties Group, and Shiow is going to report straight to group CEO Lee Yeow Seng.
According to the firm, around 50% of office space at IOI Central Blvd Towers has already been rented, with support tenants like tech giant Amazon and worldwide brokerage firm Morgan Stanley. The property is anticipated to generate an approximated rental income of at the very least $180 million each year, representing 20% of IOI Properties Group’s earnings.
Aside From IOI Central Blvd Towers, the business has 2 other projects in business district Singapore. One is the upcoming 350-key W Singapore – Marina View deluxe resort and 683-unit Marina View Residences.
