Singapore home to most real estate billionaires in Southeast Asia

Singapore is home to the most number of billionaires who made their fortunes from real estate, according to the Hurun Global Real Estate Rich List 2019.

The city-state has 10 property billionaires, ranking fourth place worldwide behind China, the US and UK.

These billionaires have a combined net worth of USD26 billion. Philip Ng and Robert Ng, sons of real estate tycoon Ng Teng Fong, have a net worth of USD5.8 billion each, making them the richest property billionaires in the city.

More: Singapore property market still a picture of stability

While Thailand only has two property billionaires, the kingdom is home to Tos Chirathivat, whose net worth of USD19 billion makes him the richest real estate billionaire in Southeast Asia, fifth worldwide.

Chirathivat and family own Central Group, which develops shopping malls and department stores across Thailand. Central Group recently invested USD200 million in Singapore ride-hailing service Grab.

Chirathivat won the award for Real Estate Personality of the Year at the 2014 PropertyGuru Thailand Property Awards. 

The Global Real Estate Rich List has 33 immigrant billionaires, led by Singapore with nine and the UK with eight.

Singapore was home to an estimated 3,598 ultra high-net-worth individuals (UHNWI) last year, according to the latest Knight Frank Wealth Report tracking individuals with assets of USD30 million or more.