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Family of Billionaires Ng Perennial to Buy Singapore CBD Property for $504 Million

The 1973-vintage Golden Mile Complex is located on 1.3 hectares of land at the edge of the… COURTESY OF PERENNIAL

Far East Organization, Sino Land – both owned by billionaire brothers Robert & Philip Ng – have teamed up with Perennial to purchase the iconic Golden Mile Complex at the Singapore Central Business District for S$700m ($504m). This is in addition to strong demand for older properties that are earmarked to be redeveloped in the financial center.

Through a collective sales managed solely by Edmund Tie, the consortium will purchase the property of 1973 vintage. It is known as Singapore’s Little Thailand because it is the most popular hangout for Thai nationals who live in the city. If approved by regulators, this will be the first large-scale, strata-titled, conserved building sale in the Lion City. The partners made the announcement in a joint statement Friday.

Marc Boey from Far East Organization’s property services division stated that Perennial is looking forward to working with him in their first joint venture project. This will transform the important heritage asset into an attractive focal point in the area. We will draw on the strengths of the partnership to continue building on the landmark’s rich history, memory, and imbuing the city and its identity with character and personality.

The consortium stated that the Golden Mile Complex, which includes 718 units, was designated for conservation. They also said that the existing building would be restored with special attention to its key features and signature terrace profile.

They plan to turn the commercial property into mixed-use office, retail, and residential development. The Golden Mile Complex is located on Nicoll Highway and Beach Road, offering panoramic views of Singapore and the Singapore coastline. It also provides easy access to the Singapore CBD as well as the Marina Bay financial district.

Pua Seck Guan, Perennial CEO, stated that she is the proud owner of several landmarks of historic significance in Singapore. These landmarks all include gazetted conservational buildings and national monuments. We are well-positioned to give new life to one the most beloved architectural gems of Singapore thanks to our solid track record in large-scale mixed use developments and conservation projects, as well as the expertise of our trusted joint venture partners.

Perennial, which includes palm oil billionaire Kuok Hong as well as tycoon Ron Sim (founder of Osim massager chair manufacturer Osim), owns and operates many historic landmarks throughout the city-state. The company developed Capitol Singapore in 2010, which includes three renovated colonial-era buildings close to City Hall. It has been transformed into a mixed use hotel, retail, and residential complex.

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The Fullerton heritage precinct was developed by Sino Land, Hong Kong’s listed company. It includes the Fullerton Hotel and Fullerton Bay Hotel at Clifford Pier in Raffles Place CBD. Privately held Far East Organization constructed The Barracks Hotel on Sentosa Island (once part the British artillery barsracks).

As the Fullerton Hotel stands on the waterfront, the Merlion statue is located at Marina Bay.

Better Together: Partnership between Student Affairs and Academic Affairs in Advancing Nonpartisan College Student Election Engagement Efforts

Crackers and cheese. Peas, carrots. Peanut butter and jelly. Bananas, chocolate. Chocolate and… well, almost everything! Some things are better when they’re combined!

Clemson University formed a partnership called Clemson Voices four years ago when we began to strategize on ways to improve student voter engagement and democratic participation. As we revise the campus action plan in 2022, promote the use of our SSLVE data and co-lead the cross-institutional DemocrACCy Challenge and learning community, the partnership continues to be strong. We recognize that each type of organization enters the voting space with its own strengths and challenges. No matter where an institution is located, building and maintaining partnerships with students and academics can help to institutionalize efforts and support broad-based strategies.

During an annual student involvement fair, Clemson faculty, students, and staff discuss voter education. CLEMSON UNIVERSITY and UNIVERSITY RELATED.

Campus Action Planning. Planning holistic democratic action is key to launching and driving successful campus initiatives. We leverage our networks in student and academic affairs to regularly engage campus students in the process. This makes it both enjoyable and results-driven. Our colleagues’ expertise and control are important to us. We trust the right people to put us on the right path for success. As co-co-conveners, we play a role in facilitating meetings, tapping people to complete tasks, and creating accountability measures.

Budgets. Higher ed units may be able to support different activities financially. Campus units that have responsibilities for cocurricular programming or student organizations can offer prizes for events and food. However, campus units that have curricular and academic responsibilities are more able to financially support student interns and purchase marketing materials. We can achieve many tasks by using a “yes and” approach to nonpartisan voter engagement within our regular budget categories.

Events. Sometimes student affairs staff can be unfairly labeled “party planners” at campus. However, most student affairs professionals are skilled in event planning and coordination. Academic affairs professionals often don’t get enough credit for their ability put together an outstanding out-of-the classroom program or event. Both of these activities can create excitement and educational opportunities on campus and in the local community. We are able to identify our strengths and weaknesses and use them to host a variety of programs related to education, voter registration, and turnout. We have the ability to host fun and engaging events for students through our programming space and regular practice in creating events that are both entertaining and educational. This allows us to offer a gateway for students who might not consider themselves politically active. Our faculty experts provide extensive and informed issue education via webinars and lectures. This is a crucial part of deeper voter education.

Mentoring students. Since the beginning of this project, we have had outstanding student leaders who have guided and informed our efforts. Clemson Votes leaders use their unique networks to recruit students for our common goals. They have a loose, collaborative organizational structure that is more collaborative than one that is hierarchical. We are better equipped to mentor and support students when we share the responsibility. Students have access to many professional networks and affiliations that allow them to connect with staff and faculty at other institutions and organizations.

Communication. It can be difficult to ensure that communication is effective and timely at large institutions. We all work together to adopt a broad approach. To embed information about voter participation into our ongoing activities, we use the Ask Every Student framework. Our student affairs network is managed by sending communications via student organizations’ newsletters, blasts through our student organization portal, student governments, parent newsletters, and through student governments. Information is shared via academic affairs and campus-wide networks, resource-sharing blogs and teaching listservs. We also send out semester launch guidelines to faculty and our weekly newsletter. We want every student to be informed about their voter registration, voter education and voter turnout options. Therefore, we seek multiple communication avenues through our partnerships.

These are just a few examples of where cross-institutional, multi-unit partnerships can increase voter engagement and effectiveness. Finding friends on campus can help anyone looking to advance or start their efforts. You will see the final product as richer, more authentic and more valuable.

The ALL IN Campus Democracy Challenge currently has 885 participating colleges and universities. Learn more about ALL In and donate to support our work.



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