IOI Properties Singapore appoints Lorraine Shiow as CEO

Shiow was previously CEO of Frasers Property, China, where she oversaw the group’s residential, commercial and logistics enterprise, investments, and business development. She had formerly held other C-Suite spots at Frasers Property, involving COO, executive VP for International Markets, and acting COO for Singapore non commercial growth.

As Chief Executive Officer of IOI Properties Singapore, Shiow will definitely drive brand-new methods to boost efficiency, grow the company’s business in the city-state and fortify its credibility as a respected residential property developer in Singapore.

Apart From IOI Central Blvd Towers, the firm has 2 various other properties in business district Singapore. One is the upcoming 350-key W Singapore – Marina View luxury resort and 683-unit Marina View Residences.

IOI Properties’ accumulated acquisitions in Singapore’s CBD amount to approximately $4.616 billion. The Singapore properties make up 64% of the group’s total asset profile of $10.35 billion, consisting of Malaysia and China.

Hillock Green floor plan

IOI Properties Singapore has already assigned Lorraine Shiow as CEO, a newly generated role for the firm, according to the business in a May 27 statement. The Singapore entity belongs to Bursa Malaysia-listed IOI Properties Group, and Shiow will report directly to group CEO Lee Yeow Seng.

According to the firm, about 50% of workplace at IOI Central Boulevard Towers has already been rented, with support tenants including tech giant Amazon and international brokerage firm Morgan Stanley. The property is anticipated to produce an assessed rental revenue of a minimum of $180 million each year, making up 20% of IOI Properties Group’s earnings.

With Shiow getting the reins at IOI Singapore, the property group is completing its largest assignment in Singapore– IOI Central Blvd Towers, a multi-billion-dollar commercial property development with 1.26 million sq ft of Grade-An office space across a 16-storey and 48-storey high rises and 30,000 sq ft retail and F&B area. The building will additionally be right linked to the Downtown MRT Station on the Downtown Line.

The other is the redevelopment of Shenton House, that Lee bought en bloc for $538 million last November. The intention is to redevelop Shenton House into a mixed-use development with Grade-A workplace and high-end branded serviced residences.

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