Lorraine Shiow Joins IOI Properties Singapore as CEO

IOI Properties Singapore announced on May 27 that Lorraine Shiow has been appointed as CEO. This is a newly-created position. Shiow, who will be reporting directly to the CEO of IOI Properties Group listed on Bursa Malaysia, is a Singapore entity that is part Bursa-listed IOI Properties Group.

Shiow, as CEO of IOI Properties Singapore will implement new strategies in order to improve performance, expand the business of the company in the city state, and strengthen its reputation as a trusted property developer in Singapore.

Shiow previously served as CEO of Frasers Property China where she was responsible for the group’s investments and business development. She also oversaw residential, commercial, and logistics businesses. Shiow held previous C-Suite roles at Frasers Property including COO, executive vice president for International Markets and acting COO of Singapore residential development.

Shiow is now the new leader of IOI Singapore. The property group has completed its largest project to date in Singapore – IOI Central Boulevard Towers. This multi-billion dollar commercial development features 1.26 million square feet of Grade-A offices spread across 16 and 48 storey towers as well as 30,000 square feet of retail and F&B. The building is also directly connected to the Downtown MRT Station, which is part of the Downtown Line.

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According to the company, approximately 50% of the office space in IOI Central Boulevard Towers is already leased. Anchor tenants include tech giant Amazon, and global brokerage firm Morgan Stanley. The property will generate rental income estimated at $180 million per year, which is 20% of IOI Properties Group revenue.

The firm also has two projects in the downtown area of Singapore. The W Singapore – Marina View luxury resort will have 350 rooms and the Marina View residences will feature 683 units.

Lee also plans to redevelop Shenton House which he purchased in November for $538m. Shenton House will be redeveloped into a mixed use development that includes Grade-A offices and luxury serviced residences.

The total amount of IOI Properties’ purchases in Singapore CBD amounts to approximately $4.616 billion. Singapore assets make up 64% of the total portfolio of assets of $10.35bn, which includes Malaysia and China.


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