Ronald Tay has been appointed CEO of CapitaLand Vietnam, effective on July 1.

HCM CITY — CapitaLand Limited has appointed a new CEO in its core market of Việt Nam as part of its ongoing leadership development and renewal process. 

Ronald Tay will be appointed CEO of CapitaLand Vietnam effective from July 1.  Adding to the wide-ranging expertise and experience of its senior executive team, the new appointment will support the group’s continued growth in a post-COVID-19 era.

Tay is currently CEO, Residential & 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 Việt Nam, including identifying investment and development opportunities. 

Tay has been with CapitaLand since 2001 and has an all-rounded understanding of the Group’s business, from capital markets, development and investments to asset management.  Before his current role, Tay was CEO of Ascott Residence Trust Management Limited.  Tay will continue to oversee ongoing development projects in Malaysia and Indonesia.

Lee Chee Koon, Group CEO, CapitaLand Group, said: “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 into our business strategy.  

CapitaLand’s merger with Ascendas-Singbridge last July brought about 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 different markets, CapitaLand leaders are gearing up to adapt to a new normal for real estate post-COVID-19.

CapitaLand has been operating in Việt Nam for more than 25 years. The Group’s portfolio in Việt Nam comprises 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 Việt Nam will continue to be driven by CapitaLand’s lodging business unit, The Ascott Limited (Ascott).  In Việt Nam, Ascott has close to 7,000 lodging units in 27 properties.

CapitaLand Vietnam is a business unit of CapitaLand, one of Asia’s largest diversified real estate groups.

After 25 years of operation in Việt Nam, CapitaLand’s portfolio in Việt Nam comprises two integrated developments, close to 8,600 quality homes across 15 residential developments, two retail malls, one business park and nearly 7,000 lodging units in 27 properties across 10 cities.  VNS