SINGAPORE (Mar 12): On March 2, Savills announced that Marcus Loo had been appointed the new managing director of Savills Singapore with immediate effect. Former managing director Steven Ming had relinquished his position in January, but is staying on over the next few months as consultant to Savills.

Ming had been with Savills Singapore for 14 years. His decision to leave the corporate world was two years in the making, he says. “I want to pursue other interests in the real estate industry, including real estate management and Prop- Tech, with several business partners who are also experienced real estate practitioners.”

One of the projects Ming is still involved in at Savills is the recent launch of a residential development site for sale. Located at 27 Moulmein Rise, the 21,742 sq ft freehold site is on the market together with an adjacent small plot, which brings the total land area to 22,198 sq ft. The site at 27 Moulmein Rise was the former Grand Tower, a 28-unit development that was sold en bloc to 27MR, a wholly-owned subsidiary of boutique developer New Century Real Estate, in August 2011.

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