IOI Properties Singapore appoints Lorraine Shiow as CEO
IOI Properties Singapore has already assigned Lorraine Shiow as CEO, a newly created situation for the company, according to the company in a May 27 announcement. The Singapore entity is part of Bursa Malaysia-listed IOI Properties Team, and Shiow will inform straight to firm CEO Lee Yeow Seng.
According to the company, approximately 50% of workplace at IOI Central Blvd Towers has already been rented, with support lessees such as tech giant Amazon and international brokerage firm Morgan Stanley. The commercial property is anticipated to produce an approximated rental income of at least $180 million every year, accounting for 20% of IOI Properties Group’s profits.
The other is the redevelopment of Shenton House, in which Lee bought en bloc for $538 million last November. The purpose is to redevelop Shenton House right into a mixed-use development with Grade-A workplace and deluxe branded serviced homes.
IOI Properties’ accumulated acquisitions in Singapore’s CBD total up to around $4.616 billion. The Singapore possessions represent 64% of the organization’s overall property portfolio of $10.35 billion, consisting of Malaysia and China.
Besides IOI Central Boulevard Towers, the company has two various other plans in downtown Singapore. One is the upcoming 350-key W Singapore – Marina View high-end resort and 683-unit Marina View Residences.
Shiow was formerly CEO of Frasers Property, China, where she managed the company’s residential, commercial and logistics enterprise, investments, and business development. She had formerly accommodated many other C-Suite positions at Frasers Property, including COO, executive VP for International Markets, and acting COO for Singapore non commercial growth.
With Shiow taking 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 with 1.26 million sq ft of Grade-An office around a 16-storey and 48-storey high rises and 30,000 sq ft retail and F&B area. The development will definitely even be directly linked to the Downtown MRT Terminal on the Downtown Line.
As Chief Executive Officer of IOI Properties Singapore, Shiow will steer brand-new approaches to enhance performance, develop the company’s business in the city-state and fortify its credibility as a respected residential property developer in Singapore.
