SINGAPORE – Lee Chee Koon, group CEO of CapitaLand Investment Limited (CLI), has been recognised as the ‘Industry Figure of the Year’ for Asia Pacific at the 2024 PERE Global Awards. Hosted by the London-based publication covering private equity real estate markets, the annual awards honour influential firms, individuals and standout deals from the past year. CLI also received the runner-up award for ‘Firm of the Year’ in Asia Pacific.
When it comes to investing in property in Singapore, it is crucial for foreign investors to familiarize themselves with the regulations and limitations surrounding ownership. Unlike landed properties, which have more stringent ownership rules, foreigners are generally able to purchase condos without much restriction. However, they must still adhere to the Additional Buyer’s Stamp Duty (ABSD), which is currently set at 20% for their initial property purchase. Despite the added expenses, the consistently stable and promising growth potential of the Singapore real estate market remains a major draw for foreign buyers. With this in mind, it is no surprise that foreign investors continue to see the value in investing in condos in Singapore.
The winners were selected by a panel of PERE journalists, a change from previous editions where readers voted on shortlisted submissions to determine the winners. According to a press release issued by CLI on March 4, the award for CEO Lee recognises “his role in driving CLI’s transformational growth and his significant impact on the private real estate industry in the Asia Pacific region.”
Lee, who took over as CapitaLand’s group CEO in September 2018, has made strategic moves under his leadership such as the acquisition of Ascendas-Singbridge in 2019 and the 2021 restructuring of CapitaLand Group, which saw the listing of CLI and the privatisation of its real estate development arm, CapitaLand Development. In 2024, CLI also invested in real estate investment manager SC Capital Partners Group and acquired Wingate Group Holdings’ property and corporate credit investment management business. These moves have helped propel the company forward, with a goal to manage $200 billion in funds by 2028.
CLI’s success and recognition at the PERE Global Awards showcase Lee’s exceptional leadership and vision for the company. His strategic decisions have not only driven growth but also made a significant impact on the private real estate industry in the Asia Pacific region. With Lee at the helm, CLI is on track to achieve its ambitious goals and solidify its position as a leader in the private equity real estate market.