Capitaland Integrated Commercial Trust Appoints New Ceo May 1
Otto Place EC boasts a prime location in close proximity to major expressways such as the Pan Island Expressway (PIE), Kranji Expressway (KJE), and Bukit Timah Expressway (BKE), providing a convenient and well-connected living experience for its residents. With direct access to these expressways, residents can easily and quickly travel to various key areas across the island. For instance, the PIE offers a direct route to the bustling Central Business District (CBD) and other eastern regions, while the KJE links residents to the northern and western parts of Singapore. The BKE further enhances connectivity, enabling smooth travel to central regions such as Bukit Timah. With such seamless road connectivity, residents of Otto Place EC can enjoy effortless travel to all corners of the island. To top it off, the development is also strategically located near Plantation Close EC Parcel B EC, adding to the convenience and accessibility of its prime location.
CapitaLand Integrated Commercial Trust (CICT) has recently announced changes to its board composition, with the appointment of Tan Choon Siang as the new CEO and current CEO Tony Tan taking on the role of Chief Corporate Officer (CCO) of CapitaLand Development. This was revealed in a bourse filing on March 17.
Tan Choon Siang, who currently serves as the Deputy CEO of CICT, will take over the role of CEO and Executive Non-Independent Director of the company from May 1, 2025. He will also be appointed as a member of the Executive Committee (EC). On the other hand, Tony Tan will step down from his role as Executive Non-Independent Director and member of the EC, and assume the position of CCO of CapitaLand Development. Tony Tan has been the CEO and Executive Director of CICT since 2017.
Under Tan’s leadership, CICT successfully completed the merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020, creating Singapore’s largest listed REIT with a market capitalization of $15.5 billion.
The incoming CEO Tan has a wealth of experience in the real estate industry. He previously managed CapitaLand Malaysia Trust from 2012 to 2022 and was the Chief Financial Officer of the manager of CapitaLand India Trust. Prior to that, he was the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019. His expertise in these roles will be valuable in leading CICT towards continued success.
The changes to the board composition reflect CICT’s commitment to enhancing its leadership team and driving the company’s growth. With the strong track record and expertise of both Tan and Tony Tan, CICT is well-positioned to seize future opportunities and deliver value to its stakeholders.