City & Country revisits the quarter’s biggest headlines and headliners. Here are our picks for the Movers & Shakers of the real estate industry in 2Q2026:
City & Country dubbed Bursa-listed IOI Properties Group (IOIPG) “the new king of Shenton Way” in April after its $2.5 billion acquisition of Asia Square Tower 2 from CapitaLand Integrated Commercial Trust. The acquisition, along with IOI Central Boulevard Towers and South Beach Tower, makes IOIPG’s portfolio in Singapore’s CBD worth about $10 billion. Group CEO Lee Yeow Seng calls Singapore a “cornerstone market” for the group, and he personally owns Shenton House. All eyes are on the Malaysian billionaire’s next move among Singapore’s prime office towers.
Adding to IOIPG’s dominance here is Varun Singh, who joined IOI Properties Singapore in June to lead investment property transactions, including acquisitions, disposals and platform-level M&A. Prior to joining IOI, Varun spent close to seven years at Pimco Prime Real Estate as director of investments. He subsequently joined JP Morgan Asset Management as vice president, acquisitions, Asia Pacific real estate.
See also: Fewer GCB deals in 1H2026, but larger quantums lift average psf near record: PropNex
Kemmy Tan has been appointed CEO of the manager of Starhill Global REIT. She takes over from Ho Sing, who had spent 16 years at the retail- and commercial-focused REIT. The REIT’s chairman is Malaysian tycoon Francis Yeoh, who is also executive chairman of conglomerate YTL Corporation. Between 2012 and 2024, Tan was CEO of M+S, the 60:40 joint venture between Malaysia’s Khazanah Nasional and Singapore’s Temasek.
Mapletree Investments’ group CFO Wendy Koh will move to Temasek as CFO-designate from Aug 1 and subsequently assume the CFO role on Oct 1. Koh was previously Mapletree Investments’ regional CEO, Southeast Asia. Replacing Koh at Mapletree Investments is Wong Mun Hoong, currently regional CEO of Australia and North Asia. Wong will hold both positions concurrently.
See also: ‘Breathe life’ into precincts by investing in commercial property: Steward Asia
Png Chin Yee will relinquish her role as Temasek’s CFO on Oct 1, close to four years after her appointment in January 2023. In her concurrent role as president of Temasek Singapore, she oversees Temasek’s Singapore-based portfolio companies.
The 863-unit Tengah Garden Residences sold 99% of its units over its launch weekend of April 25–26 at an average of $2,120 psf, becoming the best-selling project by number of units since Parktown Residence launched in February 2025. Jointly developed by Hong Leong Holdings, GuocoLand and CSC Land Group, the 99- year development is expected to obtain its temporary occupation permit (TOP) in 2029.
ERA Singapore appointed Elizabeth Choong head of research and market intelligence in April. Choong joins from EdgeProp Singapore, where she was a property research analyst for 4.5 years. She was previously with CBRE and Frasers Property
After taking Frasers Hospitality Trust (FHT) private in September 2025, Frasers Property (FPL) announced on June 25 an optimisation plan to lighten its balance sheet. Of the 14 properties FPL acquired by privatising FHT, five will be divested, four will undergo asset enhancement works and four will be up for divestment.
Former Building and Construction Authority (BCA) CEO Kelvin Wong has joined SJ Group as group chief commercial officer and region head, Asia, effective July 1. As region head for Asia, Wong will oversee more than half of SJ’s global workforce and over 60% of its global revenue in 2025.
SJ Group announced on June 26 that its group CEO Sean Chiao will retire and step down from the board of SJ Group on July 31, after more than three years in the role.
While a “global search” is underway, SJ Group chairman Chaly Mah will take on the role of executive chairman and manage key operations of the group formerly known as Surbana Jurong. Chiao’s predecessor Wong Heang Fine had retired in September 2022, and the position was vacant for six months before Chiao joined the group.
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