Thai billionaire's Frasers Property acquires Orchard Road restaurant block for $138 million

Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has secured the Cuppage Terrace shophouse cluster on Orchard Road for S$175 million, equivalent to $138 million. The property, comprising 17 heritage-styled units now operating as bars and eateries, was purchased from the privately held Royal Holdings, run by Raj Kumar and Kishin. This follows a previous S$392 million purchase of the plot behind The Centrepoint, Frasers Property’s flagship mall.

The company also owns the nearby 51 Cuppage Road office tower. Soon Su Lin, CEO of Frasers Property Singapore, highlighted that the acquisition deepens the firm’s presence on the iconic boulevard and allows it to unlock synergies across neighboring assets. Royal Holdings’ portfolio includes several hotels such as the Holiday Inn Express at Clarke Quay and the Intercontinental Singapore Robertson Quay.