Property prices are reaching an all-time high, but despite these values climbing at an alarming rate, it appears that the world’s most wealthy real estate moguls remain unaffected. After all, they have secured a future that banks on one of the most essential and lucrative businesses around the globe.
One of the main reasons why many real estate investors and developers are retaining their wealth today is that property values increase over time. Not to mention, these real estate locations have become more popular, whether it’s for business or residences.
The success of these properties can be owed to real estate moguls who hail from the Asia-Pacific region.Interested to see who made it on the list? Read on and find out who remains on top of the highly competitive property market today.
10. Alexander Otto
Net Worth: $10.7 billion
Alexander Otto is currently the CEO of ECE Group as well as a majority stakeholder of the Otto Group, a real estate firm that specializes in creating shopping centers. To supplement this, the Otto Group also has companies in retail, such as Crate and Barrel, as well as other industries.
The Otto Group has humble beginnings, with Alexander’s late father starting the company with a mail-order business. Apart from his shares in the company, Alexander has ventured into investments with Deutsche Euroshop in alignment with his involvement in shopping establishments.
10. Peter Woo
Net Worth: $10.8 billion
Co-founder and majority stakeholder of Wheelock & Co., Peter Woo’s firm is dubbed as one of Hong Kong’s biggest property developers today. Founded in 1857, the company delves into luxury projects and other real estate ventures.
According to Bloomberg, some of the note-worthy projects the firm has done over the years is the Mount Nicholson development on the Peak in Hong Kong, as well as the development of properties in Tseung Kwan O. Currently, Peter Woo is considered the seventh wealthiest individual in Hong Kong, with investments in television and port facilities.
8. Robert & Philip Ng
Net Worth: $12 billion
Singaporean brothers Robert and Philip Ng have a combined net worth of $12 billion today thanks to property development venture, Far East Organization. Their business is considered the largest property developer in Singapore and the largest private landlord, according to Forbes. They are into property and hotel development.
Far East Organization was founded by their father Ng Teng Fong in 1934, the brothers were ushered into the business after inheriting the empire from their late father. Today, Philip is tasked with managing the Singapore business and the Far East Organization, while Robert manages the Hong Kong-based sister company, Sino Group.
7. Kwong Siu-hing
Net Worth: $15.1 billion
Widow of Sun Hung Kai Properties co-founder, Kwok Tak-seng, Siu-hing was formerly the chairman of the firm from 2008 to 2011. Despite her departure from the role, Siu-hing maintains a huge share in the company – around 26.58%.
Sun Hung Kai Properties in Hong Kong focuses on developing and investing in real estate. The company also ventures into managing and operating hotels, as well as car parks.
6. Donald Bren
Net Worth: $16.4 billion
Bren is the only person on this list who hails from the United States. According to Forbes, Bren is the wealthiest real estate developer in the country. Irvine Co. currently boasts of 115 million square feet of properties under their name, with most developments made in Southern California.
Today, Donald Bren’s legacy includes more than 500 office buildings as well as retail establishments and shopping centers, and approximately 60,000 apartments. He also owns a whopping 97% share in the iconic Met Life Building.
5. Joseph Lau
Net Worth: $16.9 billion
Hong Kong billionaire Joseph Lau continues to be one of the country’s enigmatic figures thanks to his slew of controversial activities. Apart from making the front page of newspapers because of his girlfriend problems, the tycoon is also known as a fugitive from the neighboring country of Macau.
Despite these intriguing events, Lau is still recognized as a top real estate investor and developer, with a majority stake in Chinese Estate Holdings. Today, he has reportedly transferred most of his wealth to his new wife and son and split his wealth between his other children.
4. Yang Huiyan
Net Worth: $22.1 billion
Another female contender to join the ranks of real estate heavyweights is Yang Huiyan, who is said to own 57% of Country Garden Holdings. Most of these shares were obtained from her father, Yeung Kwok Keung in 2007. The company builds and manages hotels throughout China, but it has holdings that go beyond the border, particularly in Australia and Malaysia.
Outside of her controlling shares in the property development and investment sector, Yang is recognized as China’s wealthiest woman, states Fortune. She also heads the Bright Scholar Education Holdings.
3. Wang Jianlin
Net Worth: $22.6 billion
Chairman of the Dalian Wanda Group, Wang Jianlin is considered one of the industry’s top commercial real estate developers in China. In China alone, Wang has overseen the growth of over 260 plazas. Besides this, the organization also has investments in the financial and movie theater sector.
At present, Wang also owns Legendary Entertainment, a film studio in the United States, as well as a chain of cinemas in China. Other assets that were previously under his name include hotel and tourism establishments as well as shares from Atletico de Madrid and AMC.
2. Lee Shau Kee
Net Worth: $30.1 billion
The co-founder of Sun Hung Kai seems to go over and beyond his line of work. This can be attributed to his humble beginnings where he and his family barely had enough to eat.
Today, Lee Shau Kee also thanks his massive wealth to Henderson Land Development, a company he started in 1976. Both firms are into real estate development, hotel management, as well as investments and energy sectors.
Never one to turn his back to the needy, Lee Shau Kee now dedicates most of his time – and wealth – towards donating to various philanthropic organizations. Forbes states he has already given $400 million of his wealth towards supporting education.
1. Hui Ka Yan
Net Worth: $36 billion
Undoubtedly at the top of his game, Hui Ka Yan shows no sign of stopping anytime soon. As chairman of Evergrande Group, he is recognized for his esteemed work in the industry and for participating in more than 800 projects across 280 cities.
Hui started the company in 1996 by focusing on building lower-priced properties. Among its notable and memorable start in the business was its Jinbi Garden project. Today, the company and its tycoon are seen throughout China and the world as a force to be reckoned with.
With the contributions these real estate moguls have in the property development sector, there’s no wonder they have accumulated such wealth over time. If you are planning to invest in this industry, make sure to look out for these trusted names and companies – provided you have the budget for it.
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