Jason Leow will be replaced as CEO of CapitaLand Development by Jonathan Yap

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Marina View Residences enbloc

CapitaLand Development (CLD) has announced the appointment of Jonathan Yap as its new CEO. Yap will replace Jason Leow who will retire and resign from his post.

Marina View Residences enbloc is earmarked for residential and hotel use. The 0.78 ha or 84,000 sq ft site enjoys a maximum GFA of 1.09 million sq. ft.

Yap has been named the chief executive officer of funds listed at CapitaLand Investment (CLI). Yap will take over as the head of CapitaLand’s Private Real Estate Development company starting on June 5, while Leow will become advisor to the group on the same date.

In the wake of Yap’s departure from CLI, Lee Chee Koon CLI’s group CEO CLI will assume his duties to oversee CLI’s REIT platform from the beginning.

Yap has joined CapitaLand Group by way of its CapitaLand as well as Ascendas Singbridge (ASB) partnership in the year 2019. At the time the time, he served as ASB’s chief operating officers as well as its chief financial officer for the group. Prior to his current job, Yap was the president of CapitaLand Financial, where he managed the company’s fund management division.

“On behalf of CLD’s board I’d like to extend our sincere gratitude for Jason for his outstanding contributions to CapitaLand throughout more than 29 years in the company including his most recent role as the CEO for the first time of CLD since its inception at the end of September 2021 after an overhaul of CapitaLand Limited,” says Wong Kan Seng who is chairman of the group.

“Jason has been instrumental in guiding CapitaLand’s growth through Singapore, China and Vietnam and has helped build the strength of the leadership bench and instilling a teamwork culture. We are pleased that Jason will remain adviser to the Group and offer advice through his vast knowledge, experience and skills,” he adds.

Wong also acknowledged the welcome of Yap to CLD and said that the organization “looks ahead to working closely with him in order to strengthen the solid base that Jason is laying for the CLD’s sustainability”.

“Jonathan is a veteran of more than thirty years in the field of real estate and has been a major contributor in the creation of the fund management business as well as ensuring operational excellence at CLI. The appointment of Jonathan as CLD’s CEO CLD is a testament to the power of the ONE CapitaLand ecosystem and I believe that Jonathan will take CLD to reach new highs,” he says.

“I am blessed and grateful that I have the chance to lead teams in Singapore as well as China throughout my 14 years in China. It’s been incredibly satisfying to watch the organization increase in size and expand from strength increase its strength over the last three years. In the last 18 months, it’s been incredibly rewarding to collaborate with the CLD leadership team to create CLD’s growth strategy and I’m sure that CLD is in a good position across its various geographies to ensure future success.” Leow says. Leow.

“I am privileged to work alongside highly skilled colleagues from across the CapitaLand ecosystem. I am honored and elated to have the chance to lead CLD. With the board’s ongoing direction and encouragement I am looking forward working with CLD’s CLD team to expand the business of the company and establish its reputation as a reliable partner an expert developer of choice who develops spaces of high quality through innovative and sustainable solutions which enrich lives and improve the lives of all communities where CLD is present,” says Yap.

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