Lorraine Shiow Joins IOI Properties Singapore as CEO

IOI Properties Singapore named Lorraine Shiow as its CEO. It is a newly established position, the company announced in a press release on May 27. Shiow is reporting directly to Lee Yeow Sing, the group CEO at IOI Properties Group Bursa Listed in Malaysia.

Shiow will take on the role of CEO at IOI Properties Singapore. Shiow has been appointed to drive new strategies, increase performance, and grow business for the firm in Singapore. Shiow also wants to strengthen the reputation of IOI Properties Singapore as a reputable developer.

Shiow was the former CEO of Frasers Property in China. She oversaw all aspects of the group, including residential and commercial businesses, logistics and investments, as well as business development. She has held other C-Suite jobs at Frasers Property in the past, including COO. Executive VP International Markets.

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Shiow’s appointment at IOI Singapore is a major milestone for the property group. IOI Central Boulevard Towers will be its biggest project in Singapore. It includes a multi-billion dollars commercial development featuring 1.26 millions sq ft grade-A office space over 16 and 48 story towers with 30,000 square foot retail and F&B spaces. The building has a direct link to the Downtown MRT Station of the Downtown Line.

According to IOI Central Boulevard Towers, 50% of its office space is already leased. This includes anchor tenants such Amazon and Morgan Stanley, a global brokerage company. The property’s estimated rental income is at least $180 millions annually. That represents 20 percent of IOI Properties Group revenues.

The firm is also working on two other projects, including the IOI Central Boulevard Towers. The firm is also working on two other projects in downtown Singapore, including the upcoming W Singapore Marina View hotel with 350 keys and the 683 unit Marina View Residencies.

Lee has also purchased Shenton House en bloc, for $538M last November. Shenton House was to be transformed into a mixed development consisting of Grade-A commercial space and luxury serviced residential units.

IOI Properties aggregate purchases of Singapore CBD’s CBD total about $4.616billion. Singapore assets comprise 64% (10.35 Billion) of the Group’s total Asset Portfolio.

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