Frasers Property Singapore CEO Christopher Tang will retire at the end of the year.
From January 1, Tang will assume the new position of senior adviser, while continuing to serve as a director on the boards of Frasers Property (Singapore), Frasers Centrepoint Asset Management and Frasers Commercial Asset Management.
“It has been an incredible journey being part of the Frasers Property Group growth story and leading Frasers Property Singapore has been an honour and privilege,” said Tang. “The planned retirement reflects my personal desire to participate in the group’s continual growth in a different leadership capacity.”
The company also announced an evolution of its Singapore business organisation as part of its planned leadership changes.
A retail-focused platform will be created in Singapore, which will cover the asset, property and development management of its retail assets in the city. The new platform will become a retail-focused business unit in Singapore from October 15, representing an asset size of about SG$8 billion (US$5.8 billion) with development, asset management and property management capabilities in respect of retail assets held across Frasers Property Singapore and FCT.
Low Chee Wah will be appointed as CEO of the Singapore retail platform.
“Our retail business in Singapore has grown rapidly over the years,” said group CEO Panote Sirivadhanabhakdi.
“We believe the focused retail platform will allow us to better serve the needs of our customers in this fast evolving retail landscape. We are looking forward to building upon the meaningful scale of the group’s retail network while further developing our retail capabilities and leadership position for this asset class in Singapore.”