SINGAPORE: Developer Allgreen Properties, a firm controlled by Tan Sri Robert Kuok, has purchased The Seletar Mall for RM1.93 billion . Mr Kuok’s 2024 net worth is listed as US$11.5 billion , and he is said to be the wealthiest man in Malaysia.
Cuscaden Peak is owned by hotel tycoon Ong Beng Seng, firms connected to Temasek Holdings, and United Engineers after Paragon Real Estate Investment Trust waived its option to buy it.The Seletar Mall, which is 100 per cent leased, has six levels of retail shops and three parking levels with 384 parking lots. Its nett lettable area totals 188,000 square feet.
.The Kuok Group started in Johor Bahru in 1949 as a family venture called the Kuok Brothers. Its main business was the trade of rice, sugar, and wheat flour.