2023/11/13 by Michael Cole Leave a Comment
New directors for a pair of Singapore-listed REITs lead this week’s review of personnel moves from around Asia’s real estate industry, as both Lendlease Commercial REIT and ESR-Logos REIT add to their boards. Also making the list is an upgrade for an India shed investor and a couple of mainland leaders land in hot water.
On 7 November the manager of Lendlease Global Commercial REIT informed the Singapore stock exchange that it has appointed Penelope Ransom as a non-independent, non-executive director on its board with effect from the next day. Now 50, Ransom has served as group head of investments for Lendlease Corporation, the sponsor of the Singapore-listed trust, since last year after joining the company Investa Property Group.
The manager of ESR-Logos REIT announced to the Singapore stock exchange on 8 November that it has named Jeffrey Shen Jinchu as a non-executive director on its board with effect from that same day. Shen, who co-founded and serves as co-CEO of ESR Group, the sponsors of ESR-Logos REIT will be serving on the board of the Singapore-listed trust alongside fellow co-CEO Stuart Gibson and is one of the trust’s 10 directors.
Yash Ravel has been promoted to chief executive officer for fund management with Mumbai-based Welspun One, according to a LinkedIn update. Ravel takes on his new role with the industrial real estate developer and fund manager after more than four years as executive director for fund management and corporate strategy with the Indian company. He also has previous experience with Proprium Capital Partners and Morgan Stanley.
Local news reports this past week in China indicated that Zhou Zheng, former chairman of Hong Kong-listed commercial developer Joy City is suspected of serious violations of Communist Party discipline, as well as of having committed crimes and is currently being investigated by the Central Commission for Discipline Inspection. Zhou had served as chairman of the division of state-run giant COFCO from 2013 through 2021.
Accounts in mainland news media indicate that Yao Zhenhua, a Shenzhen-based financier who once led his Baoneng Group to attempt a hostile takeover of China Vanke, was said by the courts of Shenzhen’s Luohu district to have gone missing after failing to comply with court orders to assist in an investigation. Baoneng Group has been the subject of multiple legal proceedings filed by unpaid investors and creditors, with the court now indicating that Yao may be detained.
WingTai Properties said on 6 November that it had named Samson Heau Ka Chun as executive director for strategic investment, with effect from that day. Heau previously served as an assistant general manager for office with Hongkong Land for nearly 10 years, where he was part of the team managing the company’s office portfolio in Hong Kong’s Central district. In his new role, Heau is expected assist in the growth of WingTai’s portfolio in the city’s traditional business hub.
Law firm DLA Piper said on 1 November that it has appointed Ciaran Londra as a partner with its real estate practice in Singapore. Joining from Bryan Cave Leighton Paisner, Londra assists Asia-based clients on outbound real estate investments, primarily into the UK, US, French and German markets. Londra spent nearly three years with BCLP in Singapore after joining the firm in London more than a decade ago.
JLL announced on 8 November that it has appointed Rayman Zhang as managing director and head of leasing for its northern China business, based in Beijing. Zhang joins JLL from CBRE in Beijing, where he head spent nearly 12 years, including serving since April last year as head of the office services division of the company’s advisory and transaction services unit for China. Zhang also has previous experience with Cushman & Wakefield in China’s capital.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
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