PropertyGuru Names new MD for Singapore

Lu Yao has been appointed Managing Director for Singapore at PropertyGuru. Yao will join the company on September 15.

Lewis Ng, CEO at PropertyGuru, said:

“We are excited to have Lu join us as our Managing Director for Singapore, and on behalf of the Group, I would like to extend a warm welcome to him. Lu’s deep experience in marketplaces and his strength in scaling businesses with the customer at the core are essential for our next growth phase. His expertise will be invaluable as we continue to innovate and deliver more meaningful solutions for property seekers, agents, and partners in Singapore."

Lu Yao added:

“PropertyGuru has transformed how people in Singapore and Southeast Asia find their dream homes, and I am honoured to be part of that journey. I look forward to working closely with the dynamic and diverse team to deepen the trust we have built with property seekers and partners, while driving innovation and growth to shape the next chapter of the PropTech industry in the region."

Yao's impressive resume includes stints at Daraz Group (Alibaba International Digital Commerce), McKinsey & Company in China, and Dow Chemicals in the United States.

He joins a privatised PropertyGuru Group, which was delisted when it was acquired by EQT for $1.1 billion in December 2024. PropertyGuru swiftly shed several redundant Investor Relations departments, or 174 jobs, after going private.

Ng recently told The Business Times that Group performance had improved post-privatisation.