These 3 Singaporean Single Family Offices Invest in Real Estate

The smallest state in Southeast Asia, Singapore, is one of the richest cities and countries worldwide. The island and city state is among the cities with the highest costs of living in the world and forms, together with Hong Kong, the most important financial center in Asia. Significantly low tax rates and many other incentives do their best to make Singapore one of the most desired tax havens for global companies and investors. A progressive tax model with a marginal personal income tax rate of only 22% attracts many high net worth individuals. For example, in 2019, the highest tax bracket was defined as incomes above $320,000 U.S. dollars. Additionally, Singapore does not charge any taxes on capital income and grants various tax exemptions for qualifying foreign banks, offshore funds, and global trading companies. Because of Singapore’s location, that makes it a gateway for companies hoping to expand into the emerging Asian economies, and its moderate tax policy, the city state became a global hub for international investment and commerce that attracts many single family offices. Many of them are featured in our recently released high quality database of the largest single offices in Asia. But if you’re interested only in Singaporean family offices you should definitely check out our database of the largest single family offices in Singapore. These private investment offices of the world’s richest individuals especially seek for real estate investments in Singapore’s flourishing and highly modernized property market. In the following article we want to present three single family offices with headquarters in Singapore that actively invest in real estate.

The mentioned family offices are all part of our list of the largest single family offices in Singapore

• 45 entries, thereof 30 with E-Mail address, 42 with executive names
• Investment focus: Real Estate, Venture Capital, Private Equity, Financial Products, Renewables
• 23 columns included: Name, Family Name, Estimated Family Wealth, Detailed Investment Focus and exemplary investments, address, phone, e-mail, website…
• Free updates within one year included, secure payment through PayPal or Credit Card, 24/7 support through live chat and mail
• Last update: 23rd November 2020

#1: AT Capital Group

AT Capital Group serves as the private investment arm of Arvind Tiku, an Indian-born Singapore resident who has interests in oil & gas, property and renewable energy. When he was 18, he left his home country India to study mechanical engineering at the Kazakh National Technical University in Russia. Before he got into the oil and gas business in Kazakhstan, Arvind worked as a commodities trader. Arvind was previously a shareholder and director on the board of Nelson Resources Limited, an oil and gas company listed on the Toronto and London Stock Exchanges. During his career he also worked as the the Managing Director for Central Asia at Marc Rich Investment AG, where he established an international trading division for crude oil and oil products. From 1995 to 1999, Arvind served as founder and General Director for Agro Invest, a grain producing, storage and trading company based in Kazakhstan. Today his net worth is estimated to be around $2 billion (Forbes). His single family office, AT Capital Group, actively invests in private equity and real estate, where investments are made in the residential, commercial, hospitality, natural resources and construction & engineering sectors are made. Notable holdings include, for example, the Bajes Kwartier in Amsterdam, a development project where a former prison complex is going to be redeveloped into a new city district consisting of 1,350 apartments and lots of green and water features.

#2: Apricot Capital

Apricot Capital operates as the private investment office of David Tao, Singapore’s most famous instant coffee producer. He founded his company, the Super Group, in the late 80’s when the clothing store of his wife had just failed. He then thought after new business opportunities and came up with the idea of quick instant coffee for Singapore’s always busy and stressed inhabitants, which were open to a new quick and easy way of getting their daily caffeine kick. Soon, his wife and two of her siblings were set up in a 2,000-square-foot instant-coffee packaging operation – the Super Group was incorporated. After just two years of business, sales almost reached the $3 million mark and David Tao began to export to Malaysia, Thailand and Myanmar. Today Super is the second-biggest seller of instant coffee in Singapore and the number one seller in Myanmar, which is the company’s second-largest market. Teo managed to sell his company for $1.45 billion which provided him the necessary funds to set up his single family office Apricot Capital. The investment company actively invests in real estate, venture capital, private equity and funds. With regards to real estate, the firm is active in asset management, investment and development in the hotel, residential, retail and office sectors. Exemplary holdings include, for example, the I-Park at Senai Airport and “ The Palms” in Cambodia, an in progress luxury residential park.

#3: Royal Group

The Royal Group is the private single family office of Asok Kumar Hiranandani, a Singaporean real estate magnate. Together with his brother Raj Kumar, he founded and operated Royal Brothers, one of Singapore’s most successful real estate companies, for a couple of years until they split the firm in 2011 and divided their property empire. With an estimated net worth of $1,6 billion, he ranked #20 in Forbes Singapore’s 50 Richest 2020. The Royal Group single family office is run by his son, Bobby Hiranandani, who holds a degree in construction management. With the firm he executes deals to follow the goals of asset management and project development in the fields of hotel, retail, office, residential and industrial property classes. Most famous holdings include the SO Sofitel Hotel in Singapore, the Doubletree by Hilton Hotel in Kuala Lumpur and the Royal One Phillip Office Tower in Singapore.

Picture source: Mike Enerio

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