Billionaire Kwek Leng Beng s CDL Steps Up Asset Revamp Amid Headwinds forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
At least 10 billionaires, including the likes of Hong Kong’s Pansy Ho and Indonesia’s Sukanto Tanoto, are now investing more than S$6 billion ($4.4 billion) to build new hotels and expand their operations across the city-state.
Hotel Properties has won government approval to redevelop three of its adjoining prime properties on Orchard Road, Singapore’s main shopping strip, a project that analysts estimate could cost between $738 million and $1.5 billion.