IOI Properties Taps Former Frasers Executive Lorraine Shiow to Lead Singapore Business

Malaysia’s IOI Properties Group is strengthening its Singapore commitment with the hiring of Lorraine Shiow as the developer’s chief executive in the Lion City.

Shiow’s appointment to the newly created position will support long-term plans for continued expansion of the portfolio in Singapore, IOI said Monday in a release. Shiow reports directly to group CEO Lee Yeow Seng.

Most recently serving as Frasers Property’s head of China, Shiow has also held managerial posts at ARA Asset Management, ING Real Estate Asia and Temasek Holdings-controlled CapitaLand.

“Shiow brings a wealth of experience and broad regional perspectives, having held several leadership roles in the Asia Pacific real estate development and fund management industries for over three decades,” IOI said.

Regional Roles

Shiow joined regional developer Frasers Property in 2012 and held various roles including chief operating officer for Singapore and Southeast Asia and executive vice president for international markets.

As China CEO, Shiow oversaw Frasers Property’s residential, commercial and logistics business in Asia’s biggest economy and also did double duty as acting chief operating officer for Singapore residential development from 2021 to 2022.

Frasers announced Shiow’s departure in January this year as part of a leadership reshuffle, saying at the time that she was leaving to pursue personal interests. Lim Hua Tiong, chief executive of Frasers Property Vietnam and point man for the developer’s One Bangkok megaproject, took on an expanded role overseeing operations in Vietnam, Thailand and China.

The personnel changes, which Frasers said were “aimed at simplifying the organisational structure to build a more resilient and future-ready organisation in alignment with company strategy”, took effect on 1 February.

Lion City Projects

Shiow comes aboard after IOI last month announced the appointment of David Tibbott as managing director for asset management.

Tibbott joined IOI’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 is overseeing IOI Central Boulevard Towers, a 1.56 million square foot (145,000 square metre) commercial complex scheduled for completion in the Marina Bay area this year.

IOI also expects to launch the Marina View project, an integrated development comprising high-end apartments and the 350-room W Singapore Marina View, on a site the group acquired in 2021 for S$1.5 billion (then $1.1 billion).