Hotel boom in Singapore as Asia’s wealthiest bring in S$6billion in investments amid post-Covid travel surge

📆 9/22/2023 6:27 AM
📰 IndependentSG

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SINGAPORE: More money is flowing into Singapore from some of Asia’s wealthiest. These high-net-worth individuals are boosting their investments in hotels amid a surge in travel after years of pandemic restrictions, reports Forbes. Among the billionaires who are bringing in big bucks are Sukanto Tanoto from Indonesia and Pansy Ho from Hong Kong. Forbes added …

SINGAPORE: More money is flowing into Singapore from some of Asia’s wealthiest. These high-net-worth individuals are boosting their investments in hotels amid a surge in travel after years of pandemic restrictions, reports Forbes.from Indonesia and Pansy Ho from Hong Kong. Forbes added that there are at least 10 billionaires bringing in over S$6 million into Singapore.

Mr Tanoto is the owner of the Royal Golden Eagle group of companies, which has assets of over US$30 billion and employs 60,000 people all over the world. His Pacific Eagle Real Estate opened the 304-room Mondrian Duxton Singapore a few months ago. The company’s first hotel in Singapore cost S$400 million.

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