The Group's second integrated mixed development in the CBD, Guoco Midtown, which is forthcoming - Tembusu Grand Condo at Jalan Tembusu By City Development Limited (Hot Launch 2022)

The purchases, which total 1,863 beds, were made through two different deals

GuocoLand Limited announced the promotion of Valerie Wong to managing director of asset management. The promotion will take starting January 1st 2023. Wong will be in charge of the strategy of the company to develop the scope of its property investment management service.

With over 27 years’ experience with asset administration, Wong has been instrumental in growing GuocoLand’s Asset Management capabilities through the creation and the completion the construction of Guoco Tower. Guoco Tower is the flagship integrated development of the Group. located in Singapore is strategically supported by a wide range of tenants that include major multinational corporations. It is still almost full occupancy as well as generating impressive rental returns.

The coming Guoco Midtown, the Group’s second integrated mixed development within the CBD and will feature the latest generation of a hybrid workplacethat is enriched with sustainability and wellness features. Once it’s fully operational in 2023, Guoco’s high-end Class A offices will be a positive contributor to the Group’s earnings in the future.

In Singapore in addition to Guoco Tower and Guoco Midtown, GuocoLand also owns and manages 20 Collyer Quay in the CBD. Its most recent mixed-use project, Lentor Modern, will also include a mall that covers more than 96,000 square feet of retail space for commercial use which will add to the group’s investment portfolio as well as regular income once it is completed.
Wong will be responsible for the ongoing expansion and development of GuocoLand’s total business of asset management in its three main markets three key markets – Singapore, China and Malaysia. Her previous role was group’s chief executive (asset management) until August 2021 prior to that, the GuocoLand general manager for its Singapore commercial activities since she joined the Group in the year 2014. She was also the founder of the Find Tanjong Pagar Business Improvement District initiative.

“Valerie was a key player in GuocoLand’s transition from an residential developer to a multi-platform property company in Singapore in the past year,” said Cheng Hsing Yao the chief executive officer of GuocoLand. “She will play an important role in using the knowledge that we’ve accumulated in Singapore to enhance GuocoLand’s asset management capability as well as operations in China as well as Malaysia.”

Cheng said, “As we continue to expand and diversify the commercial elements of our current development projects across Singapore, Malaysia and China We also look towards the completion of our new developments that are integrated. This will provide the foundation for GuocoLand to increase the business of asset management and help the Group to capitalize on the next generation of growth opportunities in the near future.”