Thai billionaire Charoen Sirivadhanabhakdi’s company buys Singapore’s shophouse complex for $138M
Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has acquired a cluster of prime food and beverage shophouses in Singapore’s Orchard Road shopping belt for SGD175 million (US$138 million) from privately held Royal Holdings.
Thai billionaire Charoen Sirivadhanabhakdi's company, Royal Holdings, has acquired Singapore's Cuppage Terrace for $138 million. The property consists of 17 conserved shophouses converted into bars and restaurants. The acquisition, reported by Forbes, strengthens Frasers Property's presence along Orchard Road and improves their ability to create long-term value. This move follows their recent purchase of the plot behind The Centrepoint shopping complex for SGD392 million.
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