Far East Organization founder Ng Teng Fong was a property tycoon with a vast fortune from Singapore. He controlled a quarter of the country’s housing market. He is known for his frugal nature to an extent that he used to carry his own lunch during flights.
He died on 2 February 2010 at age 82. He was the founder of Sino Group and Far East Organization. Further, he also owned numerous hotels known as Fullerton Singapore.
He was survived by 7 children. At the time of his death he owned over 1,000 properties.
Below is the list of some of the properties that he owned:
Singapura Forum Hotel– This is a 8 story building was the first hotel venture of Far East Organization. It has 433 air-conditioned guest rooms.
2. Jalan Pacheli 72 Terrace Homes – 1962 (first project)
3. Hilton Hotel on Orchard Road – 1969. It has 40 floors and it is the largest Hilton Hotel in Asia Pacific. It is located in Singapore. It has more than 1080 rooms.
4. Sino Land Company Limited (5th largest developer in Hong Kong)
Sino Group is a leading property developer in Hong Kong. The group is made up of private companies owned by Ng family. Sino Land Company Limited. The company has a land bank equivalent to 19.5 million square meters. The company develops residential, offices, industrial, car parks and hotels.
5. Sino Hotels
The Sino Group owns many hotels including The Pottinger Hong Kong, The Olympian, City Garden Hotel (603 rooms), Island Pacific Hotel (333 rooms), Royal Pacific Hotel (673 rooms), Hong Kong Gold Coast Hotel (453 rooms),
6. Orchard Plaza – The commercial property is located along 150 Orchard Road in Singapore. It was opened in 1981.
7. Far East Plaza – The building was officially opened in 1982. It has over 600 shops. It also has 139 apartments of various sizes.
8. Claymore Plaza – 1984
9. Royal Pacific Hotels
10. Central Plaza in Wan Chai– This is a 78 storey building in Hong Kong. It is jointly owned by Sino Land and Sun Hung Kai Properties. It also has serviced apartments.
11. The Centrium
12. Far East Shopping Center – 1974 (the 1st shopping mall in Singapore);
13. Lucky Plaza – 1978 (30 storey building)
All the 114 shops on the 22 storey Far East Plaza were sold within 2 hours of being put in the market.
Far East Organization was the largest private land owner as well as developer in Singapore.
Far East Organization has developed over 780 properties, built 55,000 private homes in Singapore and operates over 16,500 hotel rooms in over 100 hotels.
He owned thousands of hectares as land bank. Ng also invested in property in Taiwan, China and Malaysia.
Read More:
-
Australian Billionaire Antony Pratt has a net worth of $11.4 Billion
-
Australian Lindsay Fox grew from a truck driver to billionaire
Ng Teng Fong was so passionate about his property business that even after retirement he still flew to Hong Kong every week to meet his son Philip who was in charge of business there.
Far East Organization Properties -Australia
Far East Organization has invested over AUD 2 billion on various properties across Australia. Below are some of those properties.
a) 109 St Georges Terrace: This is a 21 storey office tower.
b) 227 Elizabeth Street: 24-level tower for office, basement parking and residential spaces.
c) 256 Adelaide Terrace, Perth: This is a 17 storey building in Perth’s east end.
d) 27 – 35 Little Bourke Street, Melbourne: It hosts commercial offices, retail and hotels.
e) 50 Park Street, Sydney: 12 storey office building.
f) 54 – 58 Park Street, Sydney: 14 storey Office building.
g) 570 George Street: 23 storey office building.
h) Clock Tower Square: Retail and office.
i) St. Helena Place: This is made up of 240 homes.
j) Luna Maxi Mart Shopping Center: This is one of the best beachfront properties in Australia.
k) The Fullerton Hotel, Sydney: – This is a five-star luxury hotel.
l) Rendezvous Hotel, Sydney:
m) Vibe Hotel in Sydney: It features 198 spacious guest rooms and 13 suites. It has a rooftop pool, gym, Sauna and
n) Watertown Brand Outlet Center: Houses over 100 retailers
In 2001, Ng’s net worth was estimated to be $3.5 billion. The wealth grew to $6.7 billion in 2007.
BUSINESS STYLE
Ng was a workaholic, he clocked 18 hours per day. He even took a penlight into movie theaters to read property reports. He made sites visits on a regular basis.
Ng also spent his money on car collection. For instance, he had 5 Rolls Royce limos in his garage.
End
