All around the globe, the development of properties is big business. Whether the terrain is untouched by modern society or is in need of renovations and changes that reflect the latest in construction, those who are involved in every aspect of the process are helping to shape the future of that area of the world and those that it reaches out to in the globalized world ahead.
Real estate is the 3rd largest source for wealth among the ultrarich, with 163 billionaires of the list (9% of worldwide total) – Forbes
There are several Singapore property developers who are actively working to transform pieces of land throughout their nation and some who have expanded into international entrepreneurial adventures in order to capitalize on changes in other locations. Although there has been a recent decline in the market in Singapore, these developers have been able to maintain sizeable profits and a hand in the market.
When the financial periodical Forbes released their list of the richest people on the planet, Singapore had some significant contributions. More than a dozen billionaires residing in Singapore made the list, and over half were Singapore property developers and others involved in the real estate market, showing that although there has been some decline, the businesses are still going strong.
The largest private property developer in the land of Singapore is actually a company owned by two brothers. Recorded by Forbes as #151 in worldwide wealth, Philip and Robert Ng have been quite successful with Tsim Sha Tsui Properties and Far East Organization.
In addition to all of the things that the brothers have done in Singapore, they have begun expansion into the continent of Australia. Not ones to start small, the assets they have obtained in the “Land Down Under” are prestigious representations of the class and style the men are known for in the business world.
For instance, one of the newest purchases made by the billionaires is a hotel that was worth almost $350 million dollars when they purchased it in 2015. Another one of their acquisitions is located in Perth. Finalized in early 2016, this purchase was a beachfront mall that is sure to bring plenty of additional income to these real estate geniuses.
Of course, they are only two of the people who are involved in the real estate market in Singapore. There are many others who have achieved high levels of success, even if they have yet to amass the types of revenue seen each year by the Ng brothers and their partners.
For instance, Pontiac Land is another among the Singapore property developers that brings a significant contribution to the world through their real estate endeavors. Another family business, this one is owned and operated by four brothers. It is reported that the Kwee family has a combined worth of $5 billion dollars.
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Their latest endeavors include a project in the US, where they are partnering with an American based developer. They are planning to construct a tower in Manhattan which will span 82 stories into the air. The projected completion date for the 139 apartments is in 2018 when the brothers will place them on the market for several million a piece.
The various property developers throughout Singapore are all working on projects, even though the local market is currently in a lull.