FAR EAST ORGANIZATION
Far East Organization is the largest private property developer in Singapore, founded by Singaporean billionaire Ng Teng Fong in the 1960s.
Now controlled by the billionaire Ng brothers, along with sister company Hong Kong-based Sino Group, the company has developed 750 properties in Singapore and has established significant inroads into Australia, with more than $2 billion in partnerships and acquisitions in prime Australian locations since 2013.
In May 2015, Far East Organization and the Sino Group acquired The Westin Sydney and its adjoining Heritage Retail podium for $445.3 million .
In May 2017, Far East acquired the freehold of the historic Sydney GPO in secret, purchasing the entire GPO building and improvements for $150 million.
Historic Australia Post building in the heart of Sydney ‘sold off to foreign Chinese investors for $150 million in secret deal – and they plan to turn it into a shopping centre’
Writer: April Glover | Published Date: June 1, 2017 | Source: The Daily Mail UK