Singapore, 18 September 2023 – Mitbana, a joint venture company of Mitsubishi Corporation and Surbana Jurong, has appointed Mr Peter Lim and Mr Joseph Ueda as joint Chief Executive Officers.
As joint CEOs, Mr Lim and Mr Ueda share the leadership responsibility of driving Mitbana’s strategic growth as a leading urban development fund and spearheading Mitbana’s investments in urban development projects. Indonesia is a key market for the company, where it partners Sinar Mas Land to jointly develop over 100 hectares of greenfield land in BSD City, as well as Intiland Development to develop more than 50 hectares of land in Talaga Bestari into townships and transit-oriented developments.
Mr Yeo Choon Chong, Chairman of Mitbana and CEO ASEAN of Surbana Jurong, said, “Mitbana will benefit from the complementary skills and profound industry knowledge that both Joseph and Peter bring to the joint venture company. Their collective expertise, combined with the strengths of our shareholders and strategic collaborations with established industry players, will strengthen Mitbana’s position in the urban development and property development sectors in the region.”
Mr Ueda has over 25 years of experience in finance, private equity, real assets investment, asset management, and strategic planning. Prior to his appointment as CEO, Mr Ueda was the President and Chief Operating Officer of Mitbana, managing the operations, investments and partnerships of the company. Before joining Mitbana, he was the General Manager at the Urban Development Group, CEO Office of Mitsubishi Corporation and was responsible for overseeing the investments of the Urban Development Group.
Mr Lim has more than 30 years of extensive development experience in real estate and industrial projects in China, Cambodia and Vietnam. Before joining Mitbana, he was the General Manager of Graticity Real Estate Development Co., Ltd, and responsible for its integrated development project in Phnom Penh, Cambodia, comprising residences, offices, serviced residences and retail spaces. In China, Peter oversaw the development of two townships in Shenyang, and residential projects in Sino-Singapore Tianjin Eco-City, collaborating with joint venture partners from Japan, the Philippines and South Korea. Mr Lim has also held key business development and operational roles in government linked conglomerates including Keppel Corporation, Sembcorp, ST Group, as well as multinational corporations such as Zuellig Group.
Mr Ueda and Mr Lim takes over from Mr Yap Shih Chia, who stepped down as CEO of Mitbana on 15 September 2022.