In this week’s edition of People in the News, China developer China Resources Land loses a vice president to Sichuan Languang Development, while Softbank-backed hospitality startup Oyo has brought on board a former McKinsey & Co partner as its COO of its frontier businesses as the company tunes into the rising perception that businesses should be profitable.
In other people moves around the region, Yunnan Metropolitan Real Estate Development has made a board level appointment following the dismissal of the group’s chairman for graft and the sale of a RMB 15 billion portfolio. There were also new hires and promotions at Yuexiu Real Estate Investment Trust, CBRE and Swire Properties.
Former China Resources Land executive Chi Feng has joined Shanghai-listed developer Sichuan Languang Development as president, according to an announcement to the Shanghai stock exchange, continuing the steady stream of departures from the real estate division of conglomerate China Resources. Chi had served most recently as a senior vice president with China Resources Land, following three years as vice president. Feng’s change in career path comes as China Resources Land installed Wang Xiangming as its new chairman last week, with former boss Tang Yong having moved over to head Hong Kong-listed China Resources Power.
Ankit Gupta has been appointed as chief operating officer and SVP of frontier businesses for Oyo India and South Asia, according to a report in the India Economic Times. Reporting to Oyo Hotels and Homes’ CEO Rohit Kapoor, Gupta will be responsible for the Gurugram-based hospitality company’s frontier businesses, which include its self-operated hotels Oyo Townhouse, Collection O, and SilverKey, as well as the company’s student accommodation, co-living properties, and Oyo Home business in India and South Asia. The graduate of the Indian Institute of Technology in Bombay is joining Oyo from McKinsey & Co, where he had been a partner for four years after starting with the management consulting company in 2005.
Yang Tao has been appointed as chairman of Yunnan Metropolitan Real Estate Development, according to a local media account. Yang is taking on his new duties in addition to serving as the vice chairman of Yunnan Metropolitan Construction Investment Group and chairman of Yunnan Water Investment. The Peking University graduate’s appointment follows the dismissal in November of Xu Lei, the former chairman of Yunnan Metropolitan Construction Investment Group for graft. Late last month, Yunnan Metropolitan Construction Investment agreed to sell a portfolio of 18 assets in Chengdu, Wuhan, Changsha, Kunming, Xishuangbanna and surrounding areas to Sunac China Holdings for RMB 15.27 billion ($2.18 billion).
Freda Chen has been appointed as an investment manager in Guangzhou for Hong Kong-listed Yuexiu Real Estate Investment Trust. Before taking up her new appointment, Chen had served as a senior manager of asset management at Vanke for over a year and a half, following almost three years as a senior manager of real estate investment at Bosera Asset Management in Shenzhen. Prior to that, the Wuhan University graduate had served as a manager at Cushman & Wakefield in Beijing from 2014 to 2015 and as an analyst at CBRE from 2012 to 2014.
Francis Lo has been promoted to an assistant portfolio manager for Swire Properties, responsible for retail leasing at the developer’s mixed-use development Sino-Ocean Taikoo Li Chengdu. Lo is stepping up to her new role after a year and a half as a senior portfolio officer on the same development. Prior to that, the Peking University graduate had served as a property officer for Swire’s Pacific Place retail leasing team from 2016 to 2018 and as a development officer between 2015 and 2016, after joining the developer in 2012.
CBRE has appointed former Colliers International senior director Cindy Sun as Head of Industrial Real Estate for its China Investment and Capital Markets division, according to a statement by the company.. Sun will continue to be based in Shanghai, where she will be responsible for capital markets transactions relating to logistics, data centres, business parks and other industrial property assets, the company indicated. CBRE said that Sun’s appointment follows 12 years facilitating the completion of industrial real estate transactions across major cities in China.
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.