SINGAPORE (EDGEPROP) - CapitaLand has announced two key executive appointments in its core markets of Singapore and Vietnam that will come into effect from July 1. Tan Yew Chin will assume the role of CEO, CapitaLand Singapore. Ronald Tay will be appointed CEO, CapitaLand Vietnam.
In his new role as CEO, CapitaLand Singapore, Tan will be responsible for CapitaLand’s Singapore portfolio, which comprises more than 14,500 residential units, 20 retail malls, 17 commercial and integrated developments, and over 100 business parks, industrial and logistics properties. He will also be appointed as a member of the CapitaLand executive committee.
Tan brings with him more than 30 years of experience in real estate management. He joined CapitaLand as CEO of Business Park & Commercial in July 2019. Previously, he was CEO of Singapore & Southeast Asia at Ascendas-Singbridge (ASB) and oversaw asset management and investment and development management in Singapore, Malaysia, Indonesia and Vietnam. He was one of several former ASB leaders who joined CapitaLand group to helm key management roles after the group acquired ASB in June last year.
Tan will be supported by managing director of retail Chris Chong and managing director of commercial Chew Peet Mun. Chong will expand his responsibilities from the Singapore market to also cover CapitaLand’s retail operations in Malaysia. Chew will be newly appointed as managing director, workspace & residential, where he will be leading the performance and growth of office and business park properties as well as sales of residential projects.
As CEO, Capitaland Vietnam, Tay will identify investment and development opportunities and focus on growing the overall business in Vietnam, where the group manages two integrated developments, close to 8,600 quality residential units across 15 developments, two retail malls and one business park. CapitaLand has been operating in Vietnam for more than 25 years.
Tay is currently CEO of residential & retail in Singapore, Malaysia and Indonesia. He will continue to oversee ongoing development projects in Malaysia and Indonesia in his new role as well. Having been with CapitaLand since 2001, Tay will be taking over Chen Liang Pang, existing CEO, CapitaLand Vietnam, who will be retiring.
CapitaLand owns and manages a global portfolio of over $131.9 billion as at Dec 31 last year. Singapore and China are its core markets and it is also expanding in India, Vietnam, Australia, Europe and the US.
Lee Chee Koon, group CEO, CapitaLand Group, says that with the new changes in management, CapitaLand leaders are “gearing up to adapt to a new normal for real estate post-Covid-19”.
Read also: