Foreign Property News | Posted by Hnin Ei Khin
Singapore is home to the most number of billionaires who made their fortunes from real estate, according to the Hurun Global Real Estate Rich List 2019.
The city-state has 10 property billionaires, ranking fourth place worldwide behind China, the US and UK.
These billionaires have a combined net worth of USD26 billion. Philip Ng and Robert Ng, sons of real estate tycoon Ng Teng Fong, have a net worth of USD5.8 billion each, making them the richest property billionaires in the city.
While Thailand only has two property billionaires, the kingdom is home to Tos Chirathivat, whose net worth of USD19 billion makes him the richest real estate billionaire in Southeast Asia, fifth worldwide.
Chirathivat and family own Central Group, which develops shopping malls and department stores across Thailand. Central Group recently invested USD200 million in Singapore ride-hailing service Grab.
Chirathivat won the award for Real Estate Personality of the Year at the 2014 PropertyGuru Thailand Property Awards.
Around 139 real estate billionaires with a combined net worth of USD550 billion call Greater China home, including Hong Kong which has 25 property billionaires, the most of any city in the world.
China is home to Xu Jiayin, the wealthiest real estate billionaire in the world with a net worth of USD37 billion. Xu chairs Shenzhen-based development titan Evergrande, which has sold USD85 billion in residential property covering 52 million square metres.
Ref: Property Report
