IOI Properties Singapore appoints Lorraine Shiow as CEO
IOI Properties Singapore has already assigned Lorraine Shiow as chief executive officer, a newly generated role for the company, according to the company in a May 27 statement. The Singapore entity belongs to Bursa Malaysia-listed IOI Properties Team, and Shiow is going to inform specifically to group CEO Lee Yeow Seng.
Shiow was in the past chief executive officer of Frasers Property, China, wherein she managed the company’s residence, commercial and logistics service, investments, and company growth. She had previously accommodated other C-Suite spots at Frasers Property, consisting of COO, executive VP for International Markets, and acting COO for Singapore housing development.
As Chief Executive Officer of IOI Properties Singapore, Shiow will definitely drive new techniques to increase performance, expand the company’s company in the city-state and fortify its credibility as a trusted property developer in Singapore.
According to the business, about 50% of workplace at IOI Central Blvd Towers has already been used, with anchor renters like tech giant Amazon and international brokerage firm Morgan Stanley. The commercial property is expected to create an estimated rental income of at the very least $180 million each year, making up 20% of IOI Properties Group’s income.
With Shiow taking the reins at IOI Singapore, the property group is completing its biggest project in Singapore– IOI Central Blvd Towers, a multi-billion-dollar commercial property development with 1.26 million sq ft of Grade-An office throughout a 16-storey and 48-storey towers and 30,000 sq ft retail and F&B space. The building will additionally be right attached to the Downtown MRT Terminal on the Downtown Line.
IOI Properties’ aggregate acquisitions in Singapore’s CBD measure up about $4.616 billion. The Singapore possessions represent 64% of the group’s overall asset past record of $10.35 billion, involving Malaysia and China.
Besides IOI Central Blvd Towers, the company has 2 other properties in downtown Singapore. One is the upcoming 350-key W Singapore – Marina View deluxe resort and 683-unit Marina View Residences.
The other is the redevelopment of Shenton House, which Lee purchased en bloc for $538 million last November. The intent is to redevelop Shenton House into a mixed-use development with Grade-A workplace and luxury branded serviced residences.
