Philip and Robert Ng (Far East Organization)
Philip Ng and his brother Robert are the wealthiest real estate billionaires in Singapore with a net worth of $7 billion and $6.9 billion, respectively, according to Forbes’ real-time data.
They control Far East Organization, Singapore’s largest private landlord and property developer. Their father, Ng Teng Fong, founded the group after moving from China to Singapore in 1934. He 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 and put the property on the market in 2022.
In September, Far East sold a freehold property at Watten Estate Road to Aurum Land for SGD84.2 million (US$66 million).
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From L: billionaires Robert Ng, Ji Qi, Choo Chong Ngen, Asok Kumar Hiranandani, and Philip Ng. Graphic designed by Read/Dat Nguyen. Photos courtesy of Imaginechina via AFP, SPH Media via AFP, H World Group, Alpha Singapore. |
Ji Qi (H World Group)
Ranking third is Ji Qi with a net worth of $3.4 billion. He is the founder and executive chairman of H World Group, one of China’s largest multi-brand hotel groups.
H World Group operates more than 13,000 hotels worldwide under brands including Hi Inn and Ji Hotel, with a focus 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, one of the world’s largest hotel groups. H World Group has earlier announced plans to open 2,200-2,300 hotels and close 600-700 hotels this year.
Choo Chong Ngen (Worldwide Hotels)
The fourth place is secured by another hotel tycoon, Choo Chong Ngen, with $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. He later expanded into the mid-tier segment, adding five more hotel brands since 2009.
His privately held hotel empire, now known as Worldwide Hotels, has 41 hotels across Singapore. His daughter, Carolyn, has helped him 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 trendy central business district.
Asok Kumar Hiranandani (Royal Group)
Asok Kumar Hiranandani, the founder of Royal Group, has a net worth of $2.4 billion.
He was a cofounder of the former Royal Brothers property group. He split from his older brother, Raj Kumar, in 2011 after the brothers divided their property empire.
His Royal Group, which is 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 city’s central business district for a record SGD240 million, he paid a record SGD172 million for Ming Arcade near Orchard Road.