David Lawrence (pictured), one of the pioneers of luxury property development in Singapore, passed away on Sunday at age 65.
“The board of directors of Wheelock Properties (Singapore) Limited announces with regret and sadness that its managing director/chief executive officer, Mr David John Lawrence, has passed away peacefully on 4 March 2012,” read a statement from Wheelock Properties.
Also known as “The S$1 billion man”, Lawrence developed the Ardmore Park condo, which generated a pretax profit of approximately S$1 billion. He also made headlines when he led the acquisition of several sites such as Scotts Shopping Centre and Seaview Hotel and made investments in SC Global.
“In the market, many analysts say he had the Midas touch. In the early ’90s, Parc Oasis was one of the first huge successes in suburban condominium launches. (It was) the leader in the HDB upgraders market, with over 700 units sold within four days. In the 1990s, he bought Ardmore Park and redeveloped it into what Ardmore Park is now, a top-end luxury condominium,” noted Willy Shee, Asia Chairman of CBRE.
“In terms of work, he was very sharp, decisive, strategic, and business-like. He did not flinch from making tough decisions in the office. During the recession in the mid-80s, he helped to restructure the company and turn it around. He was a man of very high professional standards and had high expectations of staff who worked with him.”
Several industry players believe that Tan Bee Kim, the first female Executive Director of Wheelock Properties (Singapore), will likely take-over Lawrence’s vacant position. Lawrence leaves behind his wife and daughter.
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