Cuppage Terrace consists of a row of shophouses housing bars and restaurants along Orchard Road.
Frasers Property
Frasers Property, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has acquired a prime cluster of food-and-beverage shophouses in Orchard Road for S$175 million (approximately US$138 million) from privately held Royal Holdings.
The purchase of Cuppage Terrace follows six months after the Singapore-listed developer acquired the land behind The Centrepoint shopping complex for S$392 million. By now owning both the mall and the neighboring properties, Frasers Property can pursue a more integrated strategy to enhance the assets and generate long-term value.
“Acquiring Cuppage Terrace strengthens our footprint on Orchard Road and underscores our commitment to creating a more connected and vibrant precinct,” said Soon Su Lin, CEO of Frasers Property Singapore. “Combined with our increased stake in The Centrepoint, this allows us to unlock synergies across neighboring sites and better position our properties to support the ongoing transformation of Orchard Road.”
Cuppage Terrace consists of 17 conserved Peranakan-style shophouses that have been converted into bars and restaurants. The property is one of several assets held by Royal Holdings, which is managed by the father‑son team of Raj Kumar and Kishin. Together, the duo boasts a combined net worth of roughly $3.2 billion, placing them among Singapore’s wealthiest individuals. Their portfolio also features the 442‑room Holiday Inn Express at Clarke Quay, Holiday Inn Little India, and the InterContinental Singapore Robertson Quay.
The Centrepoint serves as Frasers Property’s flagship asset on Orchard Road; it was originally constructed in the early 1980s. The firm also owns 51 Cuppage Road, a ten‑story office building situated behind the shopping complex.
Frasers Property is part of the portfolio held by Charoen Sirivadhanabhakdi and his family, whose combined wealth is estimated at $12.2 billion according to Forbes’ real‑time rankings. The family’s holdings also include Thai Beverages, the maker of Chang Beer; packaging firm Berli Jucker; property developer Asset World; and Thailand’s Big C Supercenter hypermarket chain.