Valerie Wong, new managing director, asset management, at GuocoLand (Photo: GuocoLand)
SINGAPORE (EDGEPROP) - GuocoLand Limited announced the promotion of Valerie Wong to managing director of asset management, with effect from January 1, 2023. Wong will oversee the Group’s strategy to further expand its property asset management business.
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With more than 28 years of experience in asset management, Wong was instrumental in building up GuocoLand’s asset management capability with the development and completion of Guoco Tower. The Group’s flagship integrated development in Singapore is strategically anchored by a diverse mix of tenants comprising top multinational corporations. It continues to see close to full occupancy today while delivering stellar rental reversions.
The upcoming Guoco Midtown, the Group’s second integrated mixed development in the CBD, will showcase a new generation of a hybrid workplace, layered with wellness and sustainability features. When fully operational in 2023, Guoco Midtown’s premium Grade A office space will contribute positively to the Group’s revenue going forward.
When fully operational in 2023, Guoco Midtown’s premium Grade A office space will contribute positively to the Group’s revenue going forward (Photo: GuocoLand)
In Singapore, besides Guoco Tower and Guoco Midtown, GuocoLand also owns and manages 20 Collyer Quay in the CBD. Its latest integrated mixed-use development, Lentor Modern, will also have a retail mall with over 96,000 sq ft of commercial retail space that will be accretive to the Group’s investment portfolio and recurrent income when completed.
Wong will oversee the further development and growth of GuocoLand’s overall asset management business in its three key markets – Singapore, China and Malaysia. She was previously the group general manager (asset management) since August 2021, and prior to that, the general manager of GuocoLand’s Singapore commercial operations since joining the Group in 2014. She was also a founding member of the Discover Tanjong Pagar Business Improvement District initiative.
Wong was instrumental in building up GuocoLand’s asset management capability with the development and completion of Guoco Tower (Photo: GuocoLand)
“Valerie played a critical role in GuocoLand’s transformation from a residential developer into a multi-platform real estate company in Singapore over the last decade," said Cheng Hsing Yao, CEO of GuocoLand. "She will now play a key role in leveraging the expertise we have developed in Singapore to help strengthen our asset management capabilities and business in China and Malaysia."
Cheng added, “As we continue to strengthen and diversify the commercial components in our existing developments in Singapore, Malaysia and China, we also look forward to the completion of our new integrated developments. This will set the stage for GuocoLand to grow its asset management business and position the Group to capture the next wave of growth opportunities in the coming years.”