Keppel REIT Management has appointed a new CEO, while Singapore’s Terne Holding and BTS Bernina PE Fund have invested in a Vietnamese real estate developer.
Keppel REIT names Chua Hsien Yang as CEO
Singapore-based Keppel REIT’s manager has appointed Chua Hsien Yang as CEO, replacing Koh Wee Lih who will assume a new role as managing director, business development, at Keppel.
Chua, who joined Keppel in 2008, will take on his new role from January 1, 2025, while Koh will step down as CEO on December 31, 2024, according to the announcement.
The incoming CEO has more than 20 years of experience in the real estate fund management and hospitality industries. His expertise includes mergers and acquisitions, real estate investments, business development, and asset management.
Chua is currently managing director and head (M&A) at Keppel. Prior to that, he was CEO of Keppel DC REIT Management and senior vice president at Keppel REIT Management.
His appointment as CEO is part of Keppel’s succession planning and regular rotation of leadership roles, per the announcement.
Keppel REIT is one of Asia’s leading real estate investment trusts with a portfolio of prime commercial assets in Asia Pacific’s key business districts.
Terne Holdings, BTS Bernina invest in The One Destination
Singapore’s Terne Holding, a multi-sector investment group; and BTS Bernina Private Equity Fund, an Asia-focused regulated mutual fund, have entered into an investment agreement in which the joint venture will hold a 30% stake in real estate developer The One Destination.
The One Destination is the developer of the Haus Dalat project. The company is developing ESG (Environmental, Social, and Governance) real estate in Vietnam, actively engaged in numerous ongoing projects nationwide, and maintains a substantial land reserve.
According to the plan, The One Destination will build Vietnam’s first ESG-standard real estate complex on the last remaining prime land in Da Lat’s city centre. The project spans 5 hectares and has a total investment of 1.700 billion Vietnamese dong ($68 million).
Caroline Lee, Chairwoman of Terne Holding, affirmed, “Together with The One Destination and BTS, we will create a heritage landmark for Da Lat, Vietnam. We are proud to be among the pioneering foreign investors working alongside Vietnam’s real estate developers to build and preserve Da Lat in the face of the city’s concrete overdevelopment”.
Terne Holding focuses on investments in creating ecological spaces that preserve the beauty of nature, prioritise health, and build strong communities.
BTS Bernina Private Equity Fund is an open-end investment company established on December 11, 2009, in Mauritius. BTS has a fund size exceeding $368 million, with 60% invested in Asia.
