IOI Properties Singapore appoints Lorraine Shiow as CEO
According to the company, about 50% of office at IOI Central Blvd Towers has already been rented, with support lessees such as tech giant Amazon and international brokerage house company Morgan Stanley. The property is expected to create an assessed rental revenue of at the very least $180 million yearly, accounting for 20% of IOI Properties Group’s profits.
IOI Properties’ collected acquisitions in Singapore’s CBD total up to approximately $4.616 billion. The Singapore properties account for 64% of the group’s total property portfolio of $10.35 billion, including Malaysia and China.
As CEO of IOI Properties Singapore, Shiow will certainly drive brand-new methods to enhance performance, grow the firm’s business in the city-state and fortify its credibility as a trustworthy property developer in Singapore.
Apart From IOI Central Blvd Towers, the company has two other properties in downtown Singapore. One is the upcoming 350-key W Singapore – Marina View deluxe resort and 683-unit Marina View Residences.
With Shiow taking the reins at IOI Singapore, the property group is completing its largest project in Singapore– IOI Central Blvd Towers, a multi-billion-dollar commercial property development with 1.26 million sq ft of Grade-An office space around a 16-storey and 48-storey high rises and 30,000 sq ft retail and F&B area. The establishment will definitely also be straight attached to the Downtown MRT Station on the Downtown Line.
Blossoms By The Park condominium
IOI Properties Singapore has already appointed Lorraine Shiow as chief executive officer, a new created position for the firm, according to the company in a May 27 news. The Singapore entity is part of Bursa Malaysia-listed IOI Properties Team, and Shiow is going to inform directly to firm CEO Lee Yeow Seng.
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 into a mixed-use development with Grade-A workplace and luxury branded serviced houses.
Shiow was previously CEO of Frasers Property, China, where she oversaw the company’s non commercial, commercial and logistics business, investments, and business development. She had formerly accommodated many other C-Suite places at Frasers Property, involving COO, executive VP for International Markets, and acting COO for Singapore residential development.
