IOI Properties Singapore appoints Lorraine Shiow as CEO
IOI Properties Singapore has recently appointed Lorraine Shiow as chief executive officer, a new established role for the business, according to the firm in a May 27 announcement. The Singapore entity is part of Bursa Malaysia-listed IOI Properties Team, and Shiow is going to inform specifically to group CEO Lee Yeow Seng.
With Shiow making the reins at IOI Singapore, the property group is finishing its largest assignment in Singapore– IOI Central Blvd Towers, a multi-billion-dollar industrial 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 space. The development will most likely also be directly connected to the Downtown MRT Station on the Downtown Line.
Marina View Residences condominium
As Chief Executive Officer of IOI Properties Singapore, Shiow will certainly steer brand-new techniques to boost efficiency, develop the firm’s service in the city-state and fortify its reputation as a trusted property developer in Singapore.
According to the business, about 50% of office space at IOI Central Boulevard Towers has already been leased, with support tenants such as tech giant Amazon and global brokerage company Morgan Stanley. The commercial property is anticipated to produce an estimated rental earnings of at least $180 million every year, accounting for 20% of IOI Properties Group’s profits.
The other is the redevelopment of Shenton House, that Lee acquired en bloc for $538 million last November. The intent is to redevelop Shenton House into a mixed-use property development with Grade-An office and high-end branded serviced residences.
IOI Properties’ collected purchases in Singapore’s CBD measure up approximately $4.616 billion. The Singapore assets make up 64% of the group’s overall asset portfolio of $10.35 billion, involving Malaysia and China.
Shiow was formerly chief executive officer of Frasers Property, China, where she looked after the group’s residential, commercial and logistics service, investments, and company progression. She had formerly held other C-Suite places at Frasers Property, including COO, executive VP for International Markets, and acting COO for Singapore non commercial development.
Apart From IOI Central Blvd Towers, the firm has 2 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.
