The former London First boss is the first candidate to emerge who could seriously challenge the seemingly unstoppable momentum behind Sunand Prasad.
Owen came very close to defeating Pringle last time and will be seen as an extremely strong candidate.
In her last tilt at the job, Owen attracted a host of high-profile backers, including London Eye designer Marks Barfield.
In her 2004 election statement, Owen set out a 10-point delivery plan, which included creating a client champions panel to develop performance-related fee structures, and proposals to help improve architects' pay, working conditions and profit margins.
She also expressed her commitment to fostering good relations between the ARB and the RIBA, and to coming up with new systems of PI cover to better manage risk/reward for customers and architects.
She has yet to make public her manifesto for this year's election.