Recent Personnel Moves in Asia’s Real Estate Industry

New leadership at one of Singapore’s troubled REITs of US office properties has taken center stage this week, as Rahul Rana was appointed as the new CEO of Prime US REIT, effective from 1st April. Rana, a shareholder of the REIT’s sponsor, KBS Asia Partners, brings with him a wealth of experience from his time at KBS Pacific Advisors and Deutsche Bank. His appointment follows the resignation of Harmeet Singh Bedi as the previous CEO.

In other notable moves, IOI Properties Singapore has welcomed David William Tibbott as its new managing director for asset management. Tibbott, who joins from UK investment manager Chelsfield, will oversee the 1.56 million square foot commercial complex in Singapore’s Marina Bay area.

Meanwhile, investment manager Alyssa Partners has expanded its presence in Tokyo with the appointment of Don Tan as managing director and head of fund management. Tan, who previously served at KaiLong Group in Hong Kong, brings a wealth of experience to the firm as it continues to grow its Japan residential and commercial strategies.

On the international front, South Korea’s largest retailer, Shinsegae Group, has appointed Heo Byung-hoon as the new CEO of its construction division, following the takeover of chairman Chung Yong-jin last month.

Additionally, China South City Holdings has announced the resignation of Qin Wenzhong as its executive director and financial controller, with Fang Ling taking over both roles.

In India, Anarock has named Peush Jain as managing director of its newly established office leasing and advisory vertical, while CBRE has promoted Ada Fung to head of advisory and transaction services in Hong Kong.

These moves highlight the dynamic nature of the real estate industry in Asia, as companies continue to make strategic changes to adapt to evolving market conditions.