Jason Leow (left) and Jonathan Yap

Singapore-based CapitaLand Group has appointed Jonathan Yap as the new chief executive officer of CapitaLand Development ( CLD ), the group’s private real estate development arm, effective June 5.

Yap will succeed Jason Leow, who will retire and relinquish his position. Leow will be appointed adviser to CapitaLand Group on the same day.

Yap has more than 30 years of experience in real estate across Asia. He is currently CEO of listed funds at CapitaLand Investment ( CLI ), the group’s listed real estate investment management platform.

He joined the group following the merger of CapitaLand and Ascendas-Singbridge ( ASB ) in 2019. At the time, he was chief operating officer and group chief financial officer of ASB.

Prior to his current appointment, Yap was president of CapitaLand Financial, overseeing the group’s fund management business.

Yap holds a bachelor of science in estate management ( honours ) and a master of science in project management from the National University of Singapore.

CLD has a portfolio worth S$21.8 billion ( US$16.4 billion ) as at December 31 2022, focusing on its core markets of Singapore, China and Vietnam.