Amara Holdings CEO Albert Teo will be the new president of the Real Estate Developers’ Association of Singapore (Redas).
Redas’ annual general meeting was held last week, when the new management committee was elected. Following that, the president was picked by the management committee.
Mr Teo is understood to be not present at last week’s election but was represented.
The management committee is expected to meet again under Mr Teo’s chairmanship for the purpose of electing the rest of the executive committee – including two vice-presidents, a secretary, an assistant secretary, a treasurer and an assistant treasurer.
Among those elected to the management committee at last week’s AGM were Chia Ngiang Hong (group general manager of City Developments) and Lim Ee Seng (CEO of Frasers Centrepoint). They were first and second vice-president respectively in the previous committee.
Others voted in include Trina Loh of GuocoLand, Margaret Goh of NTUC Choice Homes and Kwee Yi-Lin of Pontiac Land Group.
The new exco and the management committee are expected to be inaugurated at Redas’ Chinese New Year gathering next week.
Mr Teo, who is in his early 60s, is a chartered accountant by training. He and his family control listed Amara Holdings.
Amara is involved in hotel, property, restaurant and food businesses.
Mr Teo is no newbie to Redas. He was already on the previous management committee.
Prior to joining Amara group, Mr Teo had stints with PricewaterhouseCoopers, the Cold Storage Group and the International Bank of Singapore.
He will take over from Simon Cheong of SC Global Developments, who has helmed the organisation for the maximum two consecutive terms allowed under the Redas constitution. Each term is for two years.
Mr Cheong will automatically join the new management committee. He was first elected Redas president in February 2007 and re-elected for another term in 2009.