Far East Organization is one of the largest private
real estate
Real estate is property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more general ...
developers in
Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
.
It has businesses in property development, retail, hospitality,
and food and beverage
brands in Asia and Australia.
The company was founded by the late Singaporean
billionaire
A billionaire is a person with a net worth of at least one billion (1,000,000,000, i.e., a thousand million) units of a given currency, usually of a major currency such as the United States dollar, euro, or pound sterling. The American busin ...
Ng Teng Fong
Ng Teng Fong (; 28 July 1928 – 2 February 2010) was a Singaporean real estate tycoon with a major presence in Hong Kong. He is the father of Robert Ng. In 1997, Forbes listed the two as the 30th richest people in the world.
History
Ng Teng Fo ...
in 1960.
It is currently managed by Philip Ng, whose brother Robert runs the Hong Kong-based sister company
Sino Group
Established in 1971, Sino Group () comprises three listed companies – Sino Land Company Limited (HKSE: 083), Tsim Sha Tsui Properties Limited (HKSE: 0247), Sino Hotels (Holdings) Limited (HKSE: 1221) – and private companies held by the Ng Fa ...
.
The two refer to Far East Organization as a Christian enterprise.
Far East Organization operates in Singapore,
Hong Kong,
China,
Malaysia,
and Australia.
It has three publicly listed
subsidiaries
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a sa ...
:
Far East Orchard
Far East Orchard Limited (abbreviation: FEOR), formerly known as Orchard Parade Holdings Limited, has been listed on the Mainboard of the Singapore Exchange since 1968. It is a member of Far East Organization, Singapore's largest private property ...
Limited,
,
and Far East Hospitality Trust.
History
Far East Organization’s first residential project was 72
terrace house
In architecture and city planning, a terrace or terraced house ( UK) or townhouse ( US) is a form of medium-density housing that originated in Europe in the 16th century, whereby a row of attached dwellings share side walls. In the United State ...
s in Jalan Pacheli in
Serangoon Gardens
Serangoon Garden Estate is a residential estate in the Serangoon district of the North-East Region of Singapore.
History
Serangoon Garden is one of the oldest estates on the island, and was built during the 1950s.
The estate was upgraded i ...
. The project was completed in 1962.
After developing a series of residential developments in the 1960s, the company ventured into retail, starting with Far East Shopping Centre on
Orchard Road
Orchard Road, often known colloquially as simply Orchard, is a major –long road in the Central Area of Singapore. Known as a famous tourist attraction, it is an upscale shopping area of Singapore, with numerous internationally renowned depa ...
in 1974.
This was followed by the completion of other shopping and office developments in the prime Orchard Road area, including
Lucky Plaza
Lucky Plaza is a shopping centre located in Orchard in Singapore. Built by developer Far East Organization, Lucky Plaza was completed in 1981 and has proven to be one of the most successful shopping centres in Singapore.
History
Before Lucky ...
(1978), Orchard Plaza (1981),
Far East Plaza
Far East Plaza is a shopping centre in Singapore, located in the heart of the Orchard Road shopping belt at Scotts Road. It opened in 1982 together with a Metro (clothing shop) that has since closed down.
Over the past few years, Far East Plaza ...
(1983), and Claymore Plaza (1984).
In 1987, the company acquired a majority stake in the publicly-listed Ming Court Hotel Limited
(renamed Orchard Parade Holdings Limited in 1991).
The acquisition included the Ming Court Hotel, which was renamed The Orchard Parade Hotel. Orchard Parade Holdings was restructured in 2012 to become Far East Orchard.
In 1995, the company acquired a majority stake in
Yeo Hiap Seng
Yeo Hiap Seng Limited (, Commonly known as Yeo's) is a Singaporean beverage company. It operates as an investment holding company as well as a drink manufacturer in Singapore and Malaysia. It is a multinational corporation that has offices and m ...
, a Singaporean beverage company.
The company launched the luxury development brand Inessence in 2010
and lifestyle real estate development brand Far East SOHO in 2011.
In 2012, Far East Organization listed the Far East Hospitality Trust on the
Singapore Exchange
The Singapore Exchange Limited (SGX) is a Singaporean investment holding company that provides different services related to securities and derivatives trading and others. SGX is also a member of the World Federation of Exchanges and the Asian ...
.
In 2013, it entered the Australian market through acquisitions and partnerships with The Straits Trading Company and Toga Group.
It also acquired several retail and commercial developments.
In October 2019, the company opened The Fullerton Hotel Sydney which occupies Sydney’s former
General Post Office
The General Post Office (GPO) was the state postal system and telecommunications carrier of the United Kingdom until 1969. Before the Acts of Union 1707, it was the postal system of the Kingdom of England, established by Charles II in 1660. ...
, built in 1874.
Two new businesses, Store-Y—a self-storage facility— and Agape Laundry—a centralised commercial laundry service
—were established in 2017.
In 2020, Far East Hospitality expanded for the first time into overseas territories with the acquisition of Village Hotel Ariake Tokyo in Japan.
References
External links
Far East Organization
{{Authority control
Real estate companies established in 1960
Real estate companies of Singapore
Sino Group
1960 establishments in Singapore
Singaporean brands