{
  "id": 6667348,
  "title": "Singapore father-son billionaire duo buys $245M prime shopping mall",
  "url": "https://urgent.news/2026/09/10/singapore-father-son-billionaire-duo-buys-245m-prime-shopping-mall",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-10T23:37:59.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/property/singapore-father-son-billionaire-duo-buys-245m-prime-shopping-mall-5118695.html"
  },
  "original_language": "en",
  "account": "Singapore's father-son billionaire duo, Raj Kumar and Kishin, have agreed to purchase the prime Scotts Square shopping mall for $245 million. This deal, brokered by CBRE, represents a price of $20,170 per square meter for the 130,160 square meter gross floor area of the mall. The transaction is expected to be finalized by November. Scotts Square, with a net leasable area of 76,660 square feet, houses tenancies such as Bang & Olufsen and Vivienne Westwood. The four-story freehold retail mall is part of a mixed-use development that includes two residential towers, making up roughly 43.3% of the development's value. The property was initially listed for sale in early 2024 at a price of $450 million, which later dropped to $380 million after CBRE conducted an expression-of-interest process. It was one of two malls Wharf Real Estate Investment sought to divest from, the other being Wheelock Place which sold to Hongkong Land for $1.1 billion. Wharf Estates Singapore, the parent company of the mall, is a subsidiary of Hong Kong's Wharf Real Estate Investment Company. The duo, ranked as the 19th wealthiest individuals in Singapore, have a combined net worth of $3.3 billion. Their portfolio includes numerous hotels and retail properties across Singapore.",
  "summary": "Royal Holdings and RB Capital, controlled by billionaire father and son Raj Kumar and Kishin RK, are purchasing a mall along Singapore’s prime Orchard Road shopping belt for S$310 million (US$245.2 million).",
  "key_points": [
    "Raj Kumar and Kishin billionaire duo purchase Scotts Square mall for $245M",
    "CBRE brokers deal at $20,170 per square meter for 130,160 sqm mall",
    "Transaction expected to finalize by November"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}