CapitaLand announces new CEO appointment for core market of Vietnam

Starting his position at CapitaLand Vietnam from July 1, 2020, Ronald Tay with his expertise and the experience of his senior executive team will support the group’s continued growth in a post-COVID-19 era.

Ronald Tay will be appointed CEO, CapitaLand Vietnam from 1 July 2020

Ronald Tay is currently CEO, residential and retail, CapitaLand Singapore, Malaysia, and Indonesia. He takes over from Chen Lian Pang, who will be retiring from CapitaLand.

In his new role, Tay will focus on growing the overall business in Vietnam, including identifying investment and development opportunities.

Tay has been with CapitaLand since 2001 and has an all-around understanding of the group’s business, from capital market, development, and investment to asset management.

Before his current role, Tay was CEO, Ascott Residence Trust Management Ltd. Tay will continue to oversee ongoing development projects in Malaysia and Indonesia.

According to Lee Chee Koon, Group CEO, CapitaLand Group, today’s dynamic and competitive business environment demands organisations to renew themselves and become forward-looking and motivated enterprises proficient in sustaining success.

“Like any other strategic investments undertaken by CapitaLand, the group’s commitment to leadership renewal is fully embedded in our business strategy,” said Koon.

CapitaLand’s merger with Ascendas-Singbridge in last July brought about a further deepening of the group’s management bench strength.

This continuous investment in leadership development is key to achieving transformative growth for CapitaLand in an ever-changing world of business. Across the different markets, CapitaLand leaders are gearing up to adapt to a new normal for real estate post-COVID-19.

CapitaLand has been operating in Vietnam for more than 25 years. The group’s portfolio in Vietnam comprises of two integrated developments, close to 8,600 quality homes across 15 residential developments, two retail malls, and one business park.

The growth of CapitaLand’s lodging portfolios in Vietnam will continue to be driven by CapitaLand’s lodging business unit, The Ascott Limited. In Vietnam, Ascott has close to 7,000 lodging units in 27 properties.