Billionaire Asok Kumar Hiranandani’s Royal Group to Build Luxury Apartments in Singapore

The Royal Group paid S$75 million for a site and S$35.2 million for land betterment. Bobby Hiranandani, the group’s co-chairman, shared this information.

The group bought the site last year. It has a bungalow and costs around S$2,190 per square foot.

A property expert says Claymore Road is a great location for luxury apartments. It can attract high-end corporate and embassy tenants.

The site is at 11 Claymore Road in Singapore.

The group plans to build a luxury long-stay serviced apartment project. It will require a minimum stay of three months.

The proposed 18-story development will have 102 apartments. Each unit will have two bedrooms and two bathrooms.

The ground floor will have a lobby and amenities like a swimming pool and gym. There will be a lounge on the roof.

The apartments will be fully furnished. The group will offer services like breakfast and house-keeping.

The monthly rentals will be around S$7,500 to S$8,000. Similar apartments in the area cost S$15,000 a month.

Asok Kumar Hiranandani is the chairman of Royal Group.

Hiranandani is one of the richest men in Singapore. He has a net worth of US$1.9 billion.

Hiranandani co-founded the Royal Brothers property group. He now runs Royal Group after a family settlement.

Royal Group owns many prime assets in Singapore. It also has hotels in Malaysia.

The group recently partnered with Minor Hotels to run a hotel in London.

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