Singapore’s five richest real estate billionaires ranked by Forbes
Forbes’ real-time data ranks Philip and Robert Ng of Far East Organization as Singapore’s wealthiest property billionaires, with net worths of US$7 billion and US$6.9 billion. Hotel tycoons Ji Qi, Choo Chong Ngen and Asok Kumar Hiranandani round out the top five.
Philip Ng and his brother Robert are the wealthiest real estate billionaires in Singapore, with net worths of US$7 billion and US$6.9 billion respectively, according to Forbes’ real-time data. The brothers control Far East Organization, Singapore’s largest private landlord and property developer, founded by their father Ng Teng Fong, who moved from China to Singapore in 1934 and later became known as “The King of Orchard Road”.
The family’s Hong Kong arm, Sino Group, is managed by older brother Robert and his son Daryl, while Philip oversees the group’s Singapore operations. Singapore-listed Far East Orchard converted the century-old former Westminster Fire Station in London into a luxury development featuring 17 apartments, putting the property on the market in 2022. In September, Far East sold a freehold property at Watten Estate Road to Aurum Land for S$84.2 million (US$66 million).
Ranking third is Ji Qi, founder and executive chairman of H World Group, one of China’s largest multi-brand hotel groups, with a net worth of US$3.4 billion. H World Group operates more than 13,000 hotels worldwide under brands including Hi Inn and Ji Hotel, focusing on the budget and midscale segments. Formerly known as China Lodging Group and Huazhu Group, the company is listed on both the Hong Kong Stock Exchange and Nasdaq. Ji also cofounded Trip.com, one of China’s largest travel booking sites. H World Group in June expanded its partnership with Accor and has announced plans to open 2,200 to 2,300 hotels and close 600 to 700 hotels this year.
Fourth place goes to Choo Chong Ngen, with US$3.2 billion in wealth. He built his fortune in textiles before launching the Hotel 81 budget chain in Geylang, Singapore’s red-light district, later expanding into the mid-tier segment with five more hotel brands since 2009. His privately held hotel empire, now known as Worldwide Hotels, has 41 hotels across Singapore, with his daughter Carolyn helping run the business since 2002. Since 2017, Choo has expanded overseas into Australia, Japan, Malaysia, South Korea and Thailand, with 11 hotels operated under brands including Travelodge and Holiday Inn. In 2024, Worldwide Hotels opened the world’s largest Mercure hotel, with 989 rooms, on Club Street in Singapore’s central business district.
Asok Kumar Hiranandani, founder of Royal Group, has a net worth of US$2.4 billion. He was a cofounder of the former Royal Brothers property group before splitting from his older brother Raj Kumar in 2011. His Royal Group, run by his son Bobby, owns the 215-room Sofitel Singapore Sentosa Resort. In 2025, Hiranandani opened Singapore’s second Raffles hotel in Sentosa, comprising 62 villas. In 2022, after selling his 134-room SO/Singapore hotel in the central business district for a record S$240 million, he paid a record S$172 million for Ming Arcade near Orchard Road.
