New leadership at one of Singapore’s troubled REITS of US office properties leads this week’s roundup of personnel moves from around the region. Also making the list is a new asset management boss for one of the most active office investors and the expansion of Tokyo-based Alyssa Partners.
The manager of Prime US REIT on 1 April named Rahul Rana as its new chief executive officer with effect from that same date. Now 60, Rana is a shareholder of the Singapore-listed REIT’s sponsor, KBS Asia Partners, which also controls the manager, and has been managing partner of KBS Pacific Advisors since 2015. Prior to taking on his role with KBS, Rana was a managing director with Deutsche Bank. He replaces Harmeet Singh Bedi, who resigned as CEO of the REIT of US office properties last month.
IOI Properties Singapore announced on 1 April that it has appointed David William Tibbott as managing director for asset management. Tibbott joins the Malaysian developer’s Singapore division from UK investment manager Chelsfield, where he had served as head of Singapore and regional head of asset management. In his new role Tibbott will oversee IOI Central Boulevard Towers, a 1.56 million square foot (145,000 square metre) commercial complex which is scheduled to be completed in Singapore’s Marina Bay area this year.
Don Tan has joined investment manager Alyssa Partners as managing director and head of fund management for the Tokyo-based firm. Tan’s hire comes as Alyssa Partners opened a Singapore office this past week as it continues to expand its Japan residential and commercial strategies. The Macquarie University graduate took on his new role last week after more than ten years with Hong Kong-based KaiLong Group, where he had served as managing director for fund management.
OUE Ltd announced to the Singapore stock exchange on 1 April that Christopher James Williams was resigning as deputy chairman of its board of directors, and giving up his role as a non-executive, non-independent director, as part of the company’s board renewal process. Now 65, Williams had been a member of the Singapore-listed developer’s board of directors since July 2006. In another announcement the same day, OUE said that Kelvin Lo Kee Wai was also resigning from his role as an independent, non-executive director of the company.
South Korea’s largest retailer, Shinsegae Group, has named a new head for its construction division after Chung Yong-jin took over as chairman of the group last month. The company announced on 2 April that it has dismissed Shinsegae E&C chief executive Jeong Doo-young, and appointed group executive vice president and support division chief Heo Byung-hoon as CEO of the construction business, according to local media accounts.
China South City Holdings announced on 3 April that Qin Wenzhong (pictured) has resigned from his position as an executive director with the company, and as its financial controller, after serving on its board since 2022. China South City, which has been struggling to restructure its debts after defaulting on offshore bonds, named Fang Ling, 45, as both financial controller and executive director with effect from that same day.
Mumbai-based property consulting company Anarock announced on 4 April that it has appointed Peush Jain as a managing director to lead its newly established office leasing and advisory vertical. Jain joins the company from Colliers, where he had served as managing director for India office services since mid-2022. The industry veteran previously spent more than 20 years with CBRE in India.
CBRE announced last week that it has promoted Ada Fung to head of advisory and transaction services with its Hong Kong business with effect from 1 April. With the upgrade Fung will be responsible for all aspects of CBRE’s commercial and industrial leasing business in the city, while also looking after workplace strategy and transaction management. Previously heading office services for the company, Fung has been with CBRE since 2011.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
Leave a Reply