Bobby Hiranandani

Co-chairman, Royal Group

 

Bobby Hiranandani is expanding Royal Group’s hospitality portfolio
Bobby Hiranandani

Bobby Hiranandani is the co-chairman of property investment and development company Royal Group, whose hospitality portfolio is worth about $1.5 billion. The firm operates in markets across Asia, the Middle East, Europe, Australia and the US. Royal Group was founded by Hiranandani’s father, current co-chair Asok Kumar Hiranandani.

The younger Hiranandani, a Ngee Ann Polytechnic graduate in building and real estate construction, joined Royal Group in 2009. To date, the projects he has been involved in include Sofitel So Singapore, The Singapore Resort and Spa Sentosa Managed by Accor, the InterContinental Sydney Double Bay Hotel and Doubletree by Hilton in Kuala Lumpur.

Royal Group made the headlines in March 2021 when it was reportedly the first hospitality developer and owner to obtain an Islamic green financing loan, amounting to S$250 million from Maybank Singapore. The initiative, which marks the group’s first venture into sustainable finance, will involve the sum be used to finance the existing Sofitel Singapore Sentosa Resort & Spa, as well as the upcoming Raffles Sentosa Resort & Spa Singapore, which is scheduled to open in 2022.

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Islamic green financing follows Shariah principles, for instance, by not charging interest, which is deemed exploitative.

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