Indian-origin property magnate Raj Kumar Hiranandani and Asok Kumar Hiranandani have been named among Singapore's top ten richest property tycoons and the two have a collective net worth of $2.6 billion, or Rs 15,600 crore ($1 = Rs 60) says a Wealth-X report.
Raj Kumar Hiranandani, owner of the Royal Holdings Organisation, was placed in the second position with a net worth of $1.4 billion or Rs 8,400 crore, while Asok Kumar Hiranandani, chairman of the Royal Group, was ranked seventh on the list with a fortune of $1.2 billion or Rs 7,200 crore.
Members of the Kwee and Hiranandani families took six of the ten spots on a wealth-X ranking of Singapore's wealthiest real estate tycoons, ultra high net worth (UHNW) intelligence and prospecting firm Wealth-X said.
"...Collectively the six brothers from these two families hold $7.2 billion (Rs 43,200 crore) in assets - nearly half of the $15.57 billion (Rs 93,400 crore) combined net worth of their peers on the list," the report said.
The list was topped by Philip Ng Chee Tat of Far East Organisation whose personal net worth stood at $5.2 billion (Rs 31,200 crore). He succeeded his father as head of the business in 1991.
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