There have been recent changes in the leadership of CapitaLand Integrated Commercial Trust (CICT). According to a recent announcement on March 17, Tan Choon Siang will be taking over the role of CEO while current CEO Tony Tan will assume the role of Chief Corporate Officer (CCO) for CapitaLand Development.
Tan Choon Siang, who is currently the deputy CEO of CICT, will officially take on the role of CEO and executive non-independent director of the company from May 1, 2025. He will also be appointed as a member of the executive committee (EC).
Meanwhile, current CEO Tony Tan will step down as an executive non-independent director and member of the EC. He will now focus on his new role as CCO of CapitaLand Development. Tan has been the CEO and executive director of CICT since 2017.
Purchasing a condo requires careful consideration of financing options. In Singapore, there are various mortgage choices available, but it is crucial to take note of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan a borrower can obtain, taking into account their income and current debt obligations. It is essential for investors to understand the TDSR and seek guidance from financial advisors or mortgage brokers to make well-informed decisions and prevent over-leveraging. If you are considering investing in a Singapore Condo, it is imperative to keep the TDSR in mind when exploring financing options.
Under Tan’s leadership, CICT successfully completed the merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020 to create the largest REIT in Singapore with a market capitalization of $15.5 billion.
Tan Choon Siang, who will be taking over as CEO, was previously the manager of CapitaLand Malaysia Trust since 2022. He also served as the chief financial officer for the manager of CapitaLand India Trust. Additionally, he was the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.
With these changes in leadership, CICT is expected to continue its growth and success in the commercial real estate market.