IOI Properties Singapore appoints Lorraine Shiow as CEO
As CEO of IOI Properties Singapore, Shiow will certainly drive brand-new techniques to enhance efficiency, expand the firm’s company in the city-state and fortify its reputation as a trustworthy residential property developer in Singapore.
IOI Properties Singapore has appointed Lorraine Shiow as chief executive officer, a newly created situation for the business, according to the business in a May 27 statement. The Singapore entity is part of Bursa Malaysia-listed IOI Properties Group, and Shiow is going to report directly to group CEO Lee Yeow Seng.
Shiow was previously CEO of Frasers Property, China, where she oversaw the group’s residential, commercial and logistics service, financial investments, and company growth. She had previously accommodated many other C-Suite places at Frasers Property, including COO, executive VP for International Markets, and acting COO for Singapore housing development.
According to the business, approximately 50% of office space at IOI Central Blvd Towers has already been rented, with support renters such as technology giant Amazon and international brokerage house company Morgan Stanley. The property is anticipated to produce an estimated rental income of at the very least $180 million each year, representing 20% of IOI Properties Group’s profits.
IOI Properties’ aggregate purchases in Singapore’s CBD total up to around $4.616 billion. The Singapore assets represent 64% of the group’s overall property portfolio of $10.35 billion, consisting of Malaysia and China.
Besides IOI Central Boulevard Towers, the business has two other properties in downtown Singapore. One is the upcoming 350-key W Singapore – Marina View deluxe hotel and 683-unit Marina View Residences.
The other is the redevelopment of Shenton House, that Lee purchased en bloc for $538 million last November. The intention is to redevelop Shenton House right into a mixed-use property development with Grade-An office space and luxury branded serviced houses.
With Shiow making the reins at IOI Singapore, the property group is finishing its largest venture in Singapore– IOI Central Blvd Towers, a multi-billion-dollar commercial property development 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 area. The establishment will definitely even be right connected to the Downtown MRT Terminal on the Downtown Line.