Singapore Property | Although she is the wife of Gordon Tang, a Chinese tycoon, Celine Tang is quite popular for the number of different hats she wears. In December 2013, she was chosen as the managing director of SingHaiyi Group. She also emerged as the CEO and executive chairman of another Singapore-listed firm, OKH Global.
Living in the country since 1995, The Tangs are permanent residents of Singapore with their first son in the national service of Singapore. They have two investment firms, the Tang Dynasty Pte Ltd which was started in 1995, and the Haiyi Holdings which was launched in 2003.
Acquisitions and developments
The attention of the public finally shifted to the Tangs in August 2012. By signing an agreement which was conditional between Haiyi holdings and SingXpress Land, the Tangs were able to convert $94.4 million of accumulated non-voting perpetual reference shares and also gain a 62.2% controlling interest in Sing-Xpress Land on the 27th of November in the year 2012. On the 12th of March, 2013, the company was finally renamed as SingHaiyi Group.
The Tangs have been actively involved in property development both in the U.S and in Singapore. Between 2013 and 2014, the Tangs were able to acquire three properties in the U.S., two of which were up for sale at low prices.
The first acquisition was the Tri-county mall in Greater Cincinnati. The price was reduced by 77%, and the mall is currently under development and will be rebranded into a lifestyle mall.
They also purchased Vietnam town which was then halfway through to completion. A lot of investors have already bought into the project which has 256 condo units within its nine blocks. Of the condo units available, SingHaiyi controls 192 units after paying US$33.1 million.
The Tangs invested in other projects as well as real estates in Singapore.
(Artist's Impression of City Suites)
Other development projects which the Tangs are involved with include:
- City Suites which has mainly one bedroom units with great city views
- The Vales which is a 517- unit executive condo situated in Sengkang, Singapore
- Transforming the Park Mall into a Grade-A office building on Penang road in Singapore