Lorraine Shiow Joins IOI Properties Singapore as CEO

IOI Properties Singapore appointed Lorraine Shiow CEO. According to a May 27, 2015 announcement, this is a newly created role for the company. Shiow reports directly to Lee Yeow-Seng, CEO of IOI Properties Group Bursa Malaysia listed.

Shiow is the new CEO of IOI Properties Singapore. She will lead the development of new strategies for the company to grow its business in Singapore and solidify the reputation it has as a reputable property developer.

Shiow held the position of CEO at Frasers Property China. In this role, she oversaw investments, business development, residential, logistic, and commercial business for the Frasers Property group. She previously held C-Suite positions with Frasers Property such as COO, executive Vice President for International Markets, acting COO for Singapore Residential Development, and executive VP for International Markets.

Shiow has taken over the reins of IOI Singapore. With this, the group is completing their largest project in Singapore – IOI Central Boulevard Towers. A multi-billion dollar development, it features 1,26 million sq ft (or Grade-A) office space spread between a pair of 48-storey buildings and a 16 storey tower, as well a 30,000 sq ft retail space and F&B area. The building’s Downtown MRT Station will be connected directly to it.

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According to the firm’s estimates, around 50% of IOI Central Boulevard Towers office space has been leased. Anchor tenants like tech giant Amazon and global broker Morgan Stanley have taken up residence. The property is expected generate at least $180,000,000 in rental income annually. This represents 20% of IOI Properties Group’s revenues.

The company has also undertaken two other projects downtown Singapore. One of the firm’s projects is the W Singapore Marina View luxury hotel, which will include 350 keys. Another project is the Marina View Residential with 683 units.

Lee’s other project is the redevelopment Shenton House. Lee acquired it en bloc last November for $538,000,000. Shenton House’s redevelopment will include Grade-A office spaces and luxury-branded serviced apartments.

IOI Properties has purchased properties in Singapore CBD worth $4.616billion. Singapore assets are 64% the group’s $10.35 billion total asset portfolio, including Malaysia and China.

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