UOL Group Ltd has introduced Liam Wee Sin as the new Group Chief Executive of the Singapore-listed developer, effective 2 January 2019, according to a statement by the company on Friday.
Liam, who has been with the real estate heavyweight since 1993, is moving up from the role of Deputy Group Chief Executive Officer, which he has held since August 2015, will be taking over the company’s top executive role from Gwee Lian Kheng, who announced his retirement from UOL at the end of June. Kheng will remain a director on UOL’s board after officially leaving the company on January 31st of the new year.
Taking the Helm at a Top SG Developer
“I would like to thank the Board for the appointment and I am deeply honoured to succeed Mr Gwee who has steered UOL through various property cycles to become a leading developer in Singapore today,” Liam said in a statement. “Together with my team, we will continue to share the vision and drive that has guided UOL all these years to create value for our stakeholders in the fast changing business environment.”
UOL, which has total assets of close to S$20 billion, has continued to be active this year despite the leadership transition, including purchasing 180 apartments in Jakarta’s Thamrin Nine development in July, as part of a $56.3 million deal that also included agreeing to manage a five-star hotel within the 470,000 square metre mega-project.
The developer has a portfolio of development and investment properties, hotels and serviced apartments across 12 countries in Asia-Pacific and North America. The company’s Pan Pacific Hotels Group Limited, owns both the Pan Pacific and PARKROYAL hotel brands and UOL’s listed subsidiary, United Industrial Corporation Limited, also owns a portfolio of prime commercial assets and hotels in Singapore.