CapitaLand Integrated Commercial Trust (CICT) has announced significant changes to its board with the appointment of Tan Choon Siang as CEO and the reallocation of current CEO Tony Tan as CCO of CapitaLand Development, according to a bourse filing on March 17.On May 1, 2025, Tan Choon Siang, who serves as the current deputy CEO, will officially become CEO and executive non-independent director of the company. As part of the changes, he will also be appointed as a member of the executive committee (EC).Meanwhile, current CEO Tony Tan will no longer hold the role of executive non-independent director of the company and will step down from his role on the executive committee. He will subsequently serve as chief corporate officer of CapitaLand Development, a subsidiary of the larger CapitaLand conglomerate. Tan has been CEO and executive director of CICT since 2017.Read also: CapitaLand Integrated Commercial Trust sells 21 Collyer Quay for $688 mil Under Tony Tan’s leadership, CICT oversaw the successful merger of CapitaLand Mall Trust and CapitaLand Commercial Trust in 2020. This merger resulted in the creation of CICT, Singapore’s largest listed REIT with a market capitalization of $15.5 billion.The incoming CEO Tan brings a wealth of experience to the role, having previously served as the manager of CapitaLand Malaysia Trust since 2022 and as the chief financial officer of the manager of CapitaLand India Trust. Before joining CICT, Tan was also the Head of Corporate Finance & Treasury at Ascendas-Singbridge, which merged with CapitaLand in 2019.
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Investing in a condo also offers the advantage of utilizing its value as leverage for future investments. Numerous investors opt to use their condos as collateral in order to secure further financing for additional investments, which allows them to further expand their real estate portfolio. While this approach can potentially increase returns, it also carries certain risks, making it essential to have a solid financial strategy and carefully consider the potential effects of market fluctuations. Incorporating Condo into the rewritten paragraph emphasizes the focus on this particular type of property investment.