IGB REIT CEO Elizabeth Tan dies at 42; firm mourns 'lasting impact' of 11-year tenure

KUALA LUMPUR, 22 SEPTEMBER 2026 —

KUALA LUMPUR — IGB REIT Management Sdn Bhd has announced the death of its former CEO Elizabeth Tan Hui Ning, whose 11-year leadership at the company—including a 14-month interim tenure—left a "lasting impact" on Malaysia’s REIT sector.

Tan’s passing marks the end of an era for IGB REIT, where she oversaw operations as joint COO and head of leasing before her interim CEO appointment in January 2024. Her father, Datuk Seri Robert Tan Chung Meng—IGB REIT Management’s executive chairman and a major unitholder—was among those extended condolences by the firm.

The company’s current CEO, Chai Lai Sim, called for privacy for Tan’s family, noting that wake and funeral arrangements would be shared later. Tan, 42, had graduated with First Class Honours in Business Administration from Cardiff University in 2004 before joining Mid Valley City Gardens Sdn Bhd, where her career accelerated through executive roles.

--- Tan’s career trajectory mirrored IGB REIT’s own evolution, rising from a 2004 graduate to a pivotal figure in Malaysia’s commercial real estate sector. Her tenure as interim CEO—following Antony Patrick Barragry’s retirement—coincided with a period of heightened market volatility, where REITs faced liquidity pressures and shifting tenant demands.

While IGB REIT reported a 1.8% net property income growth to RM1.22 billion in 2024, her leadership during that interim phase was critical in stabilising operations amid broader sector headwinds.

Before IGB, Tan’s expertise was honed at The Gardens Mall, where she managed leasing and operations—a role that positioned her to later oversee IGB REIT’s asset portfolio. Her academic credentials and early industry experience aligned with IGB’s strategy of blending retail and commercial real estate, a model that has since become central to Malaysia’s REIT landscape.

--- Tan’s death also underscores the challenges facing Malaysia’s REIT sector, where leadership transitions often coincide with economic shifts. IGB REIT, with a market capitalisation of RM2.1 billion as of June 2025, has navigated tenant demand fluctuations and rising interest rates—a period where her operational oversight may have mitigated risks.

While the firm has not disclosed specific financial impacts of her departure, her role in leasing and asset management was integral to sustaining occupancy rates above 95% in key properties.

Her father, Datuk Seri Robert Tan, remains a dominant force in IGB’s governance, holding a 16.5% stake in IGB REIT and 18.2% in IGB Commercial REIT as of the latest filings. His continued influence ensures stability, but Tan’s absence may test the firm’s ability to maintain operational momentum, particularly in leasing and tenant relations—a critical function she had overseen for over a decade.

--- The property sector’s reaction to Tan’s passing reflects broader recognition of her contributions. Peers in the REIT space have noted her role in professionalising IGB’s asset management, particularly in adapting to post-pandemic retail trends. While no immediate successor has been named, her legacy lies in her ability to balance commercial strategy with tenant-centric operations—a rarity in Malaysia’s REIT ecosystem.

Industry analysts have previously highlighted IGB REIT’s resilience under her leadership, citing its diversified portfolio and strong occupancy rates as benchmarks. Her interim CEO period, though brief, reinforced the firm’s focus on sustainability, a priority as Malaysia’s REIT sector grapples with rising costs and regulatory scrutiny.

--- Looking ahead, IGB REIT Management’s next steps will likely centre on succession planning, particularly in leasing and operational roles where Tan’s expertise was most acute. The firm’s ability to retain key talent—and replicate her strategic approach—will be critical as it navigates a market where REITs are increasingly judged on adaptive management.

For now, the focus remains on Tan’s family, with the company urging privacy during this period. Her passing serves as a reminder of the human element behind Malaysia’s REIT success stories—a sector where leadership continuity often determines financial resilience.

Related: IGB REIT Management Sdn Bhd · Elizabeth Tan Hui Ning · Kuala Lumpur