FOR IMMEDIATE RELEASE
TEO ENG CHEONG TO JOIN SURBANA JURONG AS CEO, INTERNATIONAL OPERATIONS
Singapore, 1 December 2015 – Surbana Jurong Private Limited announced today that Mr Teo Eng Cheong, CEO of International Enterprise Singapore, will be joining Surbana Jurong as CEO (International) effective 1 January 2016.
Said Mr Wong Heang Fine, Group CEO of Surbana Jurong: “Eng Cheong brings with him a wealth of international experience and networks arising from managing IE Singapore, Singapore’s lead government agency responsible for spearheading the overseas growth of Singapore-based companies.”
Surbana Jurong currently has projects in 51 countries and 207 cities in places like China, Southeast Asia (e.g. Myanmar, Malaysia, Brunei, Vietnam, Indonesia), India, the Middle East, South America and Africa (9 countries).
Based on an UN Report, continuing population growth and urbanisation are projected to add 2.5 billion people to the world’s urban population by 2050, with nearly 90% of the increase concentrated in Asia and Africa.
Just three countries – India, China and Nigeria together are expected to account for 37% of the projected growth of the world’s urban population between 2014 and 2050. India is projected to add 404 million urban dwellers, China 292 million and Nigeria 212 million.
As inter-connectivity across the region cities and the world grows exponentially, there will also be many opportunities for airport and port developments.
“Our growth will be in the international markets where we target the bulk of our market revenue. We are already actively pitching for masterplanning, urbanisation, infrastructure, affordable housing, residential townships and industrial parks jobs in countries like Mexico, Oman, Mauritius, Panama and other emerging markets. We intend to expand our international footprint and Eng Cheong will help us spearhead this effort,” added Wong.
Prior to IE Singapore, Teo was also involved in the Economic Development Board, Monetary Authority of Singapore, and the China-Singapore Suzhou Industrial Park project where he spent two years working in Suzhou.
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Surbana Jurong is Asia’s consultancy powerhouse for urbanisation and infrastructure developments.
We have a distinguished track record in shaping Singapore’s urban and industrial landscape over the last 50 years and deliver total urbanisation, infrastructure and engineering solutions to support sustainable social and economic growth for our clients.
Our multi-disciplinary team of specialists provides one-stop complete value chain consultancy services harnessed through years of successfully completing a wide array of projects across 207 cities in 51 countries worldwide. We have designed and completed more than a million homes in Singapore, completed masterplans for over 30 countries and developed 49 industrial parks around the world.
In June 2015, Surbana Jurong acquired two companies - KTP Consultants Pte Ltd in Singapore and Sino-Sun Architects & Engineers Co. Ltd in China. We also announced in November 2015 that we would be taking a 20% equity stake in China’s CITICC (Africa) Holding Limited, a USD300 million investment platform set up between International Financing Company (IFC), a member of the World Bank Group, and Chinese multinational construction and engineering company, CITIC Construction Co., Ltd, to potentially develop 30,000 affordable homes in Africa in the next five years.
Surbana Jurong also took up a 8.4% stake (USD 9.25 mil) in an American software company, FLUX Factory, Inc, a spin-off from Google X, to grow our sustainable and building design capabilities
With over 600 international and local awards under our belt, we have what it takes to understand, anticipate and exceed our clients’ expectations. Today, Surbana Jurong employs over 4,000 employees from 40 nationalities in 26 offices across Asia, Africa and the Middle East.