Five Indonesian Conglomerates Own Luxury Properties Abroad, Number Two Youngest

JAKARTA, KOMPAS. com – A number of conglomerates from Indonesia have invested not only in property in Indonesia, but also abroad.

The distribution of luxury properties they have is the same as in Singapore, Sydney, London, New York, to Bangkok.

So, who are the conglomerates from Indonesia who have luxury properties abroad?

Here are the five lists as summarized by

Quoting from Forbes, so far Low Tuck Kwong is the second richest person in Indonesia.

Based on data on April 28, 2023, this 75 year old man has a net worth of US$31.2 billion or the equivalent of Rp.457.5 trillion.

Read also: Singapore Officially Increases Property Purchase Tax for Foreigners

In addition to flapping his wings in the coal mining business, Low Tuck Kwong apparently owns a number of properties in various countries.

Reporting from the IDX Channel page, he has a hospital in Singapore, namely Farrer Park Hospital.

In the same area, One Farrer Hotel & SPA is also being developed, the first hotel in Singapore connected to a hospital.

Apart from that, Low Tuck Kwong also owns two property companies in Malaysia, namely Desaria Property Sdn. Bhd. and Desaria Home Sdn. Bhd. The company is running two projects in the Klang Valley, Malaysia.

Still in Malaysia, he also owns The Manor Kuala Lumpur apartment which is 46 floors tall and contains 212 condominium units.

The Widjaja family is known to be the third richest person in Indonesia according to Forbes, with a total wealth of US$10.8 billion or equivalent to Rp.158.3 trillion.

The Widjaja family company that has great success in Indonesia is Sinarmas Land. The company engaged in the property sector is now led by the third generation CEO of Sinarmas Land Group, namely Michael Widjaja.

Through Sinarmas Land, the 38-year-old man made the Widjaja family own a number of luxury properties spread across various countries.

As quoted from the company’s official website, since 2013, Sinarmas Land has started buying several luxury properties in the City of London, England, such as the Alphabeta Building and 32-50 Strand.

The company also has residential areas in three regions in China, namely in Taicang, Shenyang and Chengdu, with a land area of ​​246,000 square meters.

In addition, the Widjaja family controls hotels and resorts in Malaysia with a land area of ​​300 hectares.

Later, Sinarmas Land also acquired a portion of shares in a property development company in the United States.

Furthermore, there is the name of a businessman of Indian descent, Sri Prakash Lohia, who earned his rupiah coffers from businesses in the petrochemical and textile sectors.

According to Forbes, the fourth richest person in Indonesia has a wealth of US$7.7 billion or equivalent to Rp.112.9 trillion.

Read also: Attracted by Many Investors, Central Java’s Property Market Is Considered Promising

The 70-year-old man is known to own luxury and historic properties abroad.

In 2008, he bought a luxury property in the heart of London, England, and is known as Sheridan House.

As quoted from the Times of India, this property is the residence of General John Burgoyne, who was one of the important figures in the American Revolutionary War.

When purchased, the property was almost destroyed even though it is one of the country’s historical heritage.

It took Sri Prakash five years to restore it, and it is now his private property.

The next list of conglomerates from Indonesia who have luxury properties abroad is the palm oil entrepreneur, Sukanto Tanoto.

The 73-year-old man has so far become the 18th richest person in Indonesia according to Forbes. His total wealth reaches 2.1 billion US dollars or the equivalent of Rp. 29.6 trillion.

Through the company Pacific Eagle Real Estate, Sukanto Tanoto is known to have purchased a luxury shopping center in the elite Orchard Road area of ​​Singapore, namely the Tanglin Shopping Center in February 2023.

Pacific Eage, which is part of Sukanto’s RGE group, is also known to have bought Chinatown Plaza in the Tanjong Pagar district.

The property is now being redeveloped into the Mondrian Singapore Duxton, a luxury hotel that combines the architecture of decades-old shophouses in Singapore with contemporary influences.

Another property recently purchased by Pacific Eagle is a building near the Botanic Gardens, Singapore, which is planned to be rebuilt.

Previously, it was reported that Sukanto and his son, Andre Tanoto, had purchased one of three luxury buildings designed by the famous architect Frank O. Gehry in downtown Dusseldorf. In addition, they also bought the former palace of King Ludwig in Munich.

In fifth position is the name of a palm oil entrepreneur from Medan, Bachtiar Karim. Where based on Forbes, he is the 11th richest person in Indonesia with a wealth of US Dollars 4 billion or equivalent to Rp. 58.7 trillion.

Read also: In Five Years, The Number Of Rich Indonesians Soared 63 Percent

Although until now still domiciled in Medan, Bachtiar is known to own a number of luxury properties in Australia and Singapore.

One of the properties recently purchased is a hotel located on the outskirts of Brisbane, Australia, namely Quest Woolloongabba.

This property was purchased for IDR 641.9 billion from Pellicano Group in March 2023. Inside this hotel, there are 132 rooms and four retail shops on the ground floor.

Another family owned property located in Singapore is the historic Tan Yeok Nee house at 101 Penang Road.

This building previously belonged to a Chinese-born businessman, Tan Yeok Nee, and was bought by the Bachtiar family for almost Rp. 1 trillion.

The building is considered historic because it is one of the last surviving examples of traditional Chinese home architecture in Singapore.

Another property owned by the Bachtiar family in Singapore is the Royal Darby Park Executive Suites, Singapore. This property was purchased in 2019 from the Royal Group for IDR 1.7 trillion.

This property has a strategic location, namely in District 10 and close to a number of important facilities such as the MRT station, toll roads, schools and embassy offices.

Get updates featured news and breaking news every day from Let’s join the Telegram group “ News Update”, how to click the link, then join. You must first install the Telegram application on your cellphone.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.