IOI Properties Singapore appoints Lorraine Shiow as CEO
Shiow was formerly CEO of Frasers Property, China, wherein she looked after the company’s residential, commercial and logistics enterprise, financial investments, and business growth. She had actually formerly held many other C-Suite spots at Frasers Property, including COO, executive VP for International Markets, and acting COO for Singapore non commercial growth.
Besides IOI Central Boulevard Towers, the company has two other projects in business district Singapore. One is the upcoming 350-key W Singapore – Marina View high-end hotel and 683-unit Marina View Residences.
As Chief Executive Officer of IOI Properties Singapore, Shiow will drive new techniques to increase performance, expand the firm’s service in the city-state and reinforce its credibility as a respected property developer in Singapore.
IOI Properties Singapore has selected Lorraine Shiow as chief executive officer, a new established position for the business, according to the company in a May 27 news. The Singapore entity belongs to Bursa Malaysia-listed IOI Properties Team, and Shiow is going to report specifically to group CEO Lee Yeow Seng.
The Hill @ One North Singapore
IOI Properties’ collected purchases in Singapore’s CBD measure up about $4.616 billion. The Singapore possessions account for 64% of the organization’s overall property past record of $10.35 billion, involving Malaysia and China.
With Shiow making the reins at IOI Singapore, the property group is finishing its biggest assignment in Singapore– IOI Central Blvd Towers, a multi-billion-dollar commercial project with 1.26 million sq ft of Grade-A workplace across a 16-storey and 48-storey towers and 30,000 sq ft retail and F&B space. The establishment will even be straight connected to the Downtown MRT Terminal on the Downtown Line.
According to the firm, about 50% of workplace at IOI Central Boulevard Towers has already been leased, with anchor tenants such as technology giant Amazon and international brokerage house company Morgan Stanley. The property is expected to generate an estimated rental revenue of at least $180 million annually, representing 20% of IOI Properties Group’s earnings.
The other is the redevelopment of Shenton House, in which Lee purchased en bloc for $538 million last November. The purpose is to redevelop Shenton House right into a mixed-use property development with Grade-A workplace and deluxe branded serviced residences.
