{"id":94761,"date":"2018-07-26T09:57:49","date_gmt":"2018-07-26T02:57:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/far-east-siblings-named-as-singapores-richest-people\/"},"modified":"2018-07-26T22:04:03","modified_gmt":"2018-07-26T15:04:03","slug":"far-east-siblings-named-as-singapores-richest-people","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/far-east-siblings-named-as-singapores-richest-people\/","title":{"rendered":"Far East siblings named as Singapore\u2019s richest people"},"content":{"rendered":"


\nA Far East-led consortium acquired a mixed-use site in Holland Road after submitting the highest bid of S$1.2 billion in May. (Photo: URA)
\nThe net worth of Singapore\u2019s top 50 wealthiest people collectively increased by 11 percent to nearly US$116 billion, with two property tycoons claiming the top spot, according to a Forbes ranking.
\nBrothers Robert and Philip Ng, who control Far East Organization, clinched the number one spot after they amassed a combined net worth of US$11.9 billion.
\nMore: Supply glut unlikely to happen, condo prices may see healthy growth: JLL
\nThe business magazine said their company is the biggest private landlord and property developer in the city-state. Moreover, a Far East-led consortium acquired a commercial and residential site in Holland Road after submitting the highest bid of S$1.2 billion in May.
\nThe brothers edged out Facebook co-founder Eduardo Saverin with a net worth of US$11.8 billion. He jointly started the firm with Harvard classmate Mark Zuckerberg in 2004. Although the Singapore resident is now a venture capitalist, he still obtains most of his wealth from his 2.0 percent stake in the social media giant.
\nOther real estate moguls who made it to the top 10 richest people here is City Developments Limited\u2019s (CDL) executive chairman Kwek Leng Beng, who grabbed the fourth spot with a net worth of US$7.6 billion. Forbes said CDL is the second largest property developer here.
\nThe four Kwee siblings, who control privately held Pontiac Land, took seventh place with a combined net worth of US$5.4 billion. Father-son pair Raj Kumar and Kishin RK, who are among Singapore\u2019s top landlords with their Royal Holdings\/RB Capital property empire, secured the ninth spot (US$2.7 billion). Lastly, Hotel 81 budget chain founder Choo Chong Ngen grabbed the 10th spot with a net worth of US$2.7 billion.
\nForbes\u2019 rankings are based on exchange rates and stock prices as of 13 July.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Far East siblings named as Singapore\u2019s richest people<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A Far East-led consortium acquired a mixed-use site in Holland Road after submitting the highest...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-94761","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-oEp","jetpack-related-posts":[{"id":88547,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-road-site-awarded-to-far-east-led-consortium-for-1-21b\/","url_meta":{"origin":94761,"position":0},"title":"Holland Road site awarded to Far East-led consortium for $1.21b","date":"May 17, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the future mixed-use development near Holland Village. (Photo: URA) The tender for the commercial and residential site at Holland Road has been awarded to a Far East Organization-led consortium, after it submitted the highest bid of $1.21 billion, said the Urban Redevelopment Authority (URA) on Wednesday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75822,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-vanke-led-consortium-buys-20-malls-from-singapores-capitaland-for-us1-29-billion\/","url_meta":{"origin":94761,"position":1},"title":"China Vanke-led consortium buys 20 malls from Singapore\u2019s CapitaLand for US$1.29 billion","date":"January 5, 2018","format":false,"excerpt":"\r China Vanke, one of China\u2019s largest developers, its commercial property unit SCPG Commercial Real Estate and private equity company Hopu Investment Management have teamed up to acquire 20 shopping malls across China from Singapore\u2019s CapitaLand. The deal for the malls is worth 8.36 billion yuan (US$1.29 billion), the buyers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33709,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-bay-site-attracts-top-bid-of-usd2-6-billion\/","url_meta":{"origin":94761,"position":2},"title":"Marina Bay site attracts top bid of USD2.6 billion","date":"November 10, 2016","format":false,"excerpt":"\r Likely for a full office development SAHACHATZ\/Shutterstock The tender for a 1.1ha white site at Central Boulevard in Marina Bay closed on Tuesday (8 November) after attracting seven bids, said the Urban Redevelopment Authority (URA). This is more than the two to three bids received for the adjacent Asia\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94033,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-real-estate-investment-market-active-in-q2-colliers\/","url_meta":{"origin":94761,"position":3},"title":"Singapore real estate investment market active in Q2: Colliers","date":"July 17, 2018","format":false,"excerpt":"\r Singapore\u2019s property investment market was active in the second quarter, with residential sites offered under the Government Land Sales (GLS) programme and existing private condominiums launched for collective sales by unit owners attracting robust demand from both local and foreign developers, according to a new report from Colliers International.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":33528,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/marina-bay-site-attracts-top-bid-of-2-6-billion\/","url_meta":{"origin":94761,"position":4},"title":"Marina Bay site attracts top bid of $2.6 billion","date":"November 8, 2016","format":false,"excerpt":"\r Map showing the location of the white site. Source: URA The tender for a 1.1ha white site at Central Boulevard in Marina Bay closed on Tuesday (8 November) after attracting seven bids, said the Urban Redevelopment Authority (URA). This is more than the two to three bids received for\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/11\/Aerial-view-of-Central-Boulevard-site.jpg?fit=510%2C732&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":113823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sino-group-chairmans-son-acquires-gcb-for-37m\/","url_meta":{"origin":94761,"position":5},"title":"Sino Group chairman\u2019s son acquires GCB for $37m","date":"January 23, 2020","format":false,"excerpt":"\r The East Sussex Lane GCB is acquired by Alexander Ng \u2013 the son of Hong Kong-based Sino Group chairman Robert Ng. Image:\u00a0ntfcf.org.hk The sale of two good class bungalows (GCB) in District 10 for over $30 million last month boosted the total tally of GCB deals for 2019, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94761"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=94761"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94761\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}