Wong Heang Fine, CEO of CapitaLand Residential Singapore, has been appointed the new president of the Real Estate Developers Association of Singapore (Redas).
This followed the decision of Amara Holdings CEO Albert Teo to decline the position, said some sources. Mr. Teo was believed to have been elected as president by the new management committee at Redas’ annual general meeting last Thursday.
Mr. Wong is understood to have earned the second highest number of votes for the post at that time.
Though Mr. Teo was not present at Thursday’s election, he was represented, leading to the expectation that he would take over from Simon Cheong, who has served the maximum two straight terms as Redas’ head.
Mr. Teo, however, declined the presidency. Mr. Wong was then voted the new president of Redas at a management committee meeting held yesterday.
Redas revealed its new management committee for the 2011 / 2012 term yesterday evening.
Frasers Centrepoint’s Lim Ee Seng has been appointed as Vice President, City Developments’ Chia Ngiang Hong as Second Vice President, Allgreen Properties’ Khor Thong Meng as Honorary Secretary and Bukit Sembawang Estates’ Ng Chee Seng as Honorary Treasurer. Wing Tai Land’s CB Chng and UOL Group’s Liam Wee Sin were respectively appointed Honorary Assistant Secretary and Honorary Assistant Treasurer.
With the passing of the presidency to Mr. Wong, “Redas will continue its role as a professional and highly regarded representative body to provide effective leadership in the advancement of the real estate and development industry in Singapore and beyond”, said Mr, Cheong, who is also on the new management committee as immediate past president.
An engineer by training, Mr. Wong is also responsible for the development of CapitaLand’s business in the Gulf Cooperation Council region.