SINGAPORE-BASED Pacific Star Group yesterday said it has appointed Wong Wing Kien as president of asset management.
Mr Wong, 49, will lead the real estate investment house’s expansion of its asset management business in Asia. This includes enlarging its portfolio of third-party assets, as well as developing asset management and enhancement strategies for the group’s existing properties to enhance both asset values and yields.
Prior to joining Pacific Star, Mr Wong was group chief operating officer of Surbana Corporation, a wholly-owned company of Temasek Holdings.
In total, he has over two decades of experience in construction, project consultancy, property development and real estate investment in the region.
Pacific Star manages over 2.5 million square feet of prime office, residential and retail space across Asia. Its portfolio includes Capital Square and TripleOne Somerset in Singapore, 88 Gloucester in Hong Kong, Pavilion Residences in Kuala Lumpur, Noon Square in Seoul, and Cross Tower in Shanghai.
The group, which has offices in key cities such as Kuala Lumpur, Bangkok, Hong Kong, Beijing, Shanghai, Seoul, Tokyo, Sydney, Doha, Munich and New York, recently made its foray into Vietnam.
It was appointed asset management adviser to Sunrise City Shopping Mall, a mega shopping centre in Ho Chi Minh City, that is expected to be ready by late 2012. The mall is part of a US$500 million mixed-use project developed by Vietnam property firm Novaland.
Pacific Star has also advised and managed multi-billion-dollar real estate transactions since its inception in 2001. It manages a suite of funds, including the 1.2 billion euro (S$2.4 billion) AREIF Fund, the US$600 million Baitak Asian Real Estate Fund, and the US$650 million Asian Real Estate Prime Development Fund.
The group’s latest fund activities include fundraising for its US$500 million Enterprise Fund and US$2 billion Asia Fund Select fund.
Source: Business Times, 9 Jan 2010
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