CapitaLand Group announced on March 23 that Jason Leow, the Chief Executive Officer (CEO) of CapitaLand Development (CLD), the Group’s private real estate development branch, will retire and relinquish his position effectively on June 5, 2023. Jonathan Yap will succeed him as CEO of CLD. Chairman Wong Kan Seng expressed gratitude to Leow for his contributions to CapitaLand over the last 29 years, particularly in leading the growth of the Group’s business in Singapore, China, and Vietnam, building the leadership bench strength, and fostering a strong culture of teamwork. He will continue to serve as an Advisor to the Group.
Yap is presently CEO of Listed Funds at CapitaLand Investment (CLI), the listed real estate investment management platform of the Group. He joined the CapitaLand Group in 2019 via the CapitaLand and Ascendas-Singbridge (ASB) merger, where he was previously Chief Operating Officer and Group Chief Financial Officer. He oversaw the Group’s fund management business while serving as President of CapitaLand Financial before his present position.
Leow expressed gratitude for the opportunity to lead teams in Singapore and China and to see the Group expand and grow from strength to strength over the past three decades. He is confident that CLD is well-positioned across all its geographies for future success. Yap said he is honoured and excited to be allowed to lead CLD and looks forward to working closely with the CLD team to further grow the company’s business and reputation as a trusted partner and developer.
CapitaLand Development is the development arm of the CapitaLand Group, with a portfolio worth approximately S$21.8 billion as of December 31, 2022. CLD has a well-established real estate development capability, focusing on its core markets of Singapore, China, and Vietnam and spanning various asset classes, including integrated developments, retail, office, lodging, residential, business parks, industrial, logistics, and data centres. Its strong expertise in master planning, land development, and project execution has earned it numerous accolades, including the Building and Construction Authority Quality Excellence Award and FIABCI Prix d’Excellence Award.
CapitaLand Group’s real estate investment management arm, CLI, has also announced that Lee Chee Koon, Group CEO of CLI, will take over from Yap to oversee CLI’s REITs platform directly, following Yap’s role cessation at CLI.