Mainboard-listed Frasers Property (FPL) has announced the appointment of Tan Wee Hsien as CEO-designate of its Singapore business, effective Sept 8. Tan will succeed Soon Su Lin as CEO of Frasers Property Singapore (FPS) on Oct 1.
Tan joins FPS from CapitaLand Development (CLD), where he is currently CEO for Vietnam and International.
Soon will transition into the role of adviser, supporting FPL group CEO Panote Sirivadhanabhakdi. She will also continue serving on the boards of One Bangkok and Frasers Centrepoint Asset Management, the manager of Frasers Centrepoint Trust.
Soon Su Lin
Soon has been with FPL for more than nine years, leading its Singapore business since 2022. Before returning to Singapore, she served as CEO, development, Thailand, where she oversaw landmark projects including The PARQ and the development phase of One Bangkok.
See also: Heng Swee Keat to be senior advisor at APS Asset Management
Under her leadership in Singapore, FPL deepened its capital partnerships and joint ventures, co-developing projects including The Orei, the upcoming Dunearn House, a residential site at Kallang Close and the redevelopment of the former Robertson Walk and Fraser Place into The Robertson Opus.
On the investment front, Soon strengthened the Singapore portfolio through acquisitions, capital recycling, asset enhancement and sustainability initiatives. This includes increasing ownership of The Centrepoint — the group's first asset on Orchard Road — positioning it for long-term rejuvenation, acquiring NEX with Frasers Centrepoint Trust and completing the asset enhancements at Tampines 1 and Alexandra Point.
Soon says: “My time at Frasers Property has been a highly rewarding chapter of my career. Leading the Singapore business and previously The PARQ and One Bangkok, has been an immense privilege. What I am proudest of is the team and strategy we built together in developing each of our projects and growing the business. They are the foundation of everything we have achieved, and of what comes next.”
See also: Kelvin Tay starts at Pictet Wealth Management as CIO for Asia
She adds: “I have been in discussions with our GCEO on a planned handover, and I am pleased to be supporting Frasers Property and Wee Hsien in this transition. I am grateful to Panote and the Board for their trust and immense support all these years. I look forward to contributing to the Group’s strategic priorities in my new role.”
Sirivadhanabhakdi says: “Su Lin has made an invaluable contribution to Frasers Property. I am grateful for her leadership, for what she has achieved in Singapore and for the pivotal role she led in the development of One Bangkok. She has built deep partnerships and shown what our Purpose means in practice. It has been the Board’s and my privilege to work alongside her. I am glad she will continue to contribute to the group in an advisory capacity and the group will be well-served by her continued counsel.”
Tan Wee Hsien
Joining the FPL executive leadership team, Tan will report to Sirivadhanabhakdi and will be based in Singapore. He will oversee the strategic direction, investments, operations and development management of FPL’s retail, commercial, residential and mixed-use portfolio in Singapore.
Tan brings close to three decades of real estate experience across Asia Pacific. He is currently responsible for CLD’s operations in Vietnam and its international markets. Prior to this, he served as CEO of new business and strategic planning at CLD, overseeing new markets, corporate planning, investment strategy and key sustainability strategies and initiatives.
Before joining CLD in 2022, Tan served as CEO of MCL Land, as well as director and head of development property, South Asia at Hongkong Land. He joined Hongkong Land in 2007 and expanded its residential and development property business in Singapore and across Southeast Asia.
Earlier in his career, he was head of property at Great Eastern Life Assurance, overseeing pan-Asia real estate investments. He also held roles at Jones Lang LaSalle and Ascendas. He holds a Bachelor of Science (Honours) in Estate Management from the National University of Singapore.
Tan says: “I am honoured to lead Frasers Property Singapore at this pivotal time for the business. Su Lin has built strong foundations with a talented team and a clear sense of purpose. Frasers Property Singapore is embarking on its next exciting phase, with a robust retail portfolio and several significant development projects ahead.”
He adds: “I am committed to building on this momentum and working closely with the executive leadership and Singapore team to drive meaningful growth and deliver on our priorities. Together, we will continue to shape the future of Singapore’s real estate landscape and create places for good.”
Tan brings deep regional experience across multiple asset classes and a strong record in real estate leadership, says Sirivadhanabhakdi. “His perspective will be valuable as we execute our strategy and create long-term value for our stakeholders in Singapore. Wee Hsien’s appointment further strengthens our Group’s leadership bench and I am confident in what he will bring to this role.”
The leadership transition comes as FPL continues to advance several major development projects in Singapore while managing a retail portfolio anchored by assets such as The Centrepoint and NEX.
As at March 31, FPL had approximately $40 billion in total assets and operates across five asset classes comprising industrial and logistics, retail, commercial and business parks, residential and hospitality.
The group is the sponsor of Frasers Centrepoint Trust and Frasers Logistics and Commercial Trust, both of which are listed on the Singapore Exchange; as well as of Frasers Property Thailand Industrial Freehold & Leasehold REIT and Golden Ventures Leasehold Real Estate Investment Trust, both of which are listed on the Thailand Stock Exchange.
Shares of FPL closed at $1.07, $0.01 or 0.9% higher on July 2.
Photos: Frasers Property
