IOI Properties Singapore appoints Lorraine Shiow as CEO
According to the firm, approximately 50% of office at IOI Central Blvd Towers has already been rented, with support renters such as tech giant Amazon and worldwide brokerage house company Morgan Stanley. The building is expected to produce an estimated rental revenue of at least $180 million annually, representing 20% of IOI Properties Group’s income.
The other is the redevelopment of Shenton House, that Lee bought en bloc for $538 million last November. The intent is to redevelop Shenton House into a mixed-use project with Grade-An office and deluxe branded serviced houses.
As Chief Executive Officer of IOI Properties Singapore, Shiow will definitely drive brand-new methods to increase productivity, develop the company’s organization in the city-state and reinforce its reputation as a trustworthy real estate developer in Singapore.
IOI Properties’ collected investments in Singapore’s CBD total up to about $4.616 billion. The Singapore assets account for 64% of the group’s overall property portfolio of $10.35 billion, involving Malaysia and China.
Shiow was in the past chief executive officer of Frasers Property, China, wherein she oversaw the group’s non commercial, commercial and logistics enterprise, financial investments, and business progression. She had previously held other C-Suite places at Frasers Property, including COO, executive VP for International Markets, and acting COO for Singapore housing growth.
IOI Properties Singapore has recently assigned Lorraine Shiow as CEO, a newly established role for the business, according to the firm in a May 27 statement. The Singapore entity belongs to Bursa Malaysia-listed IOI Properties Team, and Shiow will inform specifically to group chief executive officer Lee Yeow Seng.
With Shiow making the reins at IOI Singapore, the property group is completing its biggest venture in Singapore– IOI Central Boulevard Towers, a multi-billion-dollar commercial project with 1.26 million sq ft of Grade-An office space across a 16-storey and 48-storey towers and 30,000 sq ft retail and F&B area. The building will definitely also be right connected to the Downtown MRT Terminal on the Downtown Line.
Apart From IOI Central Blvd Towers, the firm has two various other projects in business district Singapore. One is the upcoming 350-key W Singapore – Marina View luxury resort and 683-unit Marina View Residences.
