This week in Asia’s real estate world, one of Singapore’s oldest conglomerates announced that the founder of its serviced apartment division would be leaving after more than twenty-two years with the company, and a Chongqing-based developer made space for a new top executive in its leadership ranks. A number of senior executives in Asia’s real estate investment ranks also announced new corporate homes with a Dubai developer building up a Greater China team and a portfolio manager leaving a mainland insurer to join a US private equity firm. Read on for all the details on these moves and more.
Choe Peng Sum has retired from his role as chief executive at Frasers Hospitality after twenty years running the parent company of Frasers Suites and of the manager of Singapore-listed Frasers Hospitality Trust. Choe’s retirement took effect from February 15th, according to a statement from the company, which said that the change in leadership was long-expected and that a search for a replacement for the 58-year-old was still in progress.
Chongqing-based developer Jinke Property Group announced on February 1st that it had appointed Yu Linqiang as its new President, promoting the veteran executive after nearly 17 years with the company. On the same day, Jinke revealed that its Chairman, Jiang Sihai had resigned from the company’s presidency, paving the way for Yu’s ascension. Yu had most recently served as Vice President at Jinke after being promoted to that role in July 2017.
Disheng Lin has joined Park Hill Real Estate in Hong Kong as a Director with the advisory and placement agency division of New York-based PJT Partners. Lin takes on his new role with Park Hill after spending the last two years with the Hong Kong office of mainland insurer China Life where he was a Portfolio Manager for Real Assets with the company’s outbound real estate investment and portfolio management team. The graduate of Shanghai’s Tonji University and Cornell University also spent four years with the Townsend Group in the US and Hong Kong.
Yang Xiu has joined Dubai-based developer Omniyat as a Senior Vice President with the company’s Greater China Business Development Division. Yang made the jump to the privately-held Emirati firm after just under two years as a Senior Investment Director with Fosun Hive, the real estate investment division of Shanghai’s Fosun Group. The graduate of the China Europe International Business School (CEIBS) and the University of Melbourne also has previous experience with CCCG Overseas Real Estate and Greenland Group.
Qiao Yu has been promoted to General Manager with Pamfleet in Shanghai, taking on greater responsibilities less than three years after joining the mainland operation of the Hong Kong-based real estate asset manager. After joining Pamfleet from Tishman Speyer as its first full-time Shanghai-based team member in October 2016, Yu had previously been promoted to Associate in January 2017.
Lynn Cong has joined Pamfleet in Shanghai as a Senior Analyst with Andrew Moore’s growing mainland team. Cong had previously spent just under two years with JM Capital in Beijing, where she served as an Analyst with the real estate fund manager formed as a joint venture between China’s Jinmao Group and Australia’s Macquarie Capital. The graduate of Taipei’s Soochow University also has previous experience with Huatai Securities.
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.