Established in 1947; and located in the Central Business district of Singapore - Raffles Place - the Royal Group is in the real estate business and has invested in developing a wide range of properties comprising residential, serviced apartments and commercial properties that include Office Towers, Shopping Malls and Hotels. Headquartered and situated at 3 Phillips Street, the group has invested properties in Singapore, Malaysia, Indonesia; Dubai and Australia.
The founder and Chairman of the group is second generation Asok Kumar Hiranandani; who took over his father's retail business and expanded it to 30 retail outlets in Singapore. In 1985 the focus changed to investments in Real estate and their first investment was a commercial property "The Lucky Plaza" in Orchard Road. Their return on investment was 5 times after refurbishment and a change in tenant mix. That remains the group's anchor property to date.
1992, the group invested in "The Promenade" in Orchard Road for $159 million and improved the rental income a change in tenant mix and then sold the property in 1997 for $271 million.
1993 an investment was made in the Queensway Shopping Centre. Over the years, the tenant mix was improved to enhance the yield; During the same year the group also invested in commercial space at the Peninsula Plaza. Both properties remain as part of their asset portfolio to date.
1994 the group expanded its portfolio to include Hotel properties in Australia and New Zealand. As part of the hotel portfolio purchase, the company entered into management contracts with the ACCOR group. The French group operator managed the properties and later purchased the properties from the group when ACCOR went public in 1997.
1995, an investment was made in a Hotel Property in Singapore called the "Melia at Scotts" for $96 million. With the experience gained from investments in Australia and New Zealand, the management guided right mix of improvements in the property and sold it for $189 million in 1997.
2001, the group invested in their head office at 22 Malacca Street in Raffles Place, Singapore. The property was bought with an occupancy rate of less than 30%. A substantial capital expenditure was devoted to refurbishment and together with an aggressive marketing strategy to populate the building with tenants; the group has a building today that is 100% occupied with a waiting list.
2003, the group ventured into commercial properties in Dubai and Malaysia. The world went into recession; and the group reevaluated their holdings to achieve the right tenancy mix to meet the global slump. In 2007, two commercial buildings were purchased in Chinatown. With the successful tenders in Chinatown, the focus shifted to begin tendering for government lands to build hotels to meet the future needs of tourist bed count in Singapore. The Chinatown properties were converted into boutique hotels that provided added value to the group's assets. A successful bid was also made for the land at Merchant road, Singapore and converted the area into a 203 room business hotel and office building managed by Park Regis Hospitality. The property was profitably sold in 2010.
2011 saw the admission of Bobby Hiranandani, Asok Kumar's son into management. Bobby successfully tendered for a conservation building along Robinson road; the development of the Hotel has begun and is expected to be completed in 2013; the agreement with Accor to manage. This hotel will be the first entry by ACCOR's Sofitel into Singapore, the hotel to be branded “Sofitel So”. Two further office building acquisitions were made to the portfolio that included 1 and 3 Phillip Street in Raffles Place. The Royal Group plans to move their head offices to 3 Phillip Street in the First Quarter of 2012.
The group owns various landed properties, commercial properties in various prime locations of Singapore and has bought over many businesses through the years. The group owns more than 25 companies and the performance of its diversified portfolio has progressively shown improvement in business every year. Besides, the group has also invested in the financial markets in Singapore.