By Cecilia Chow and Timothy Tay / EdgeProp September 6, 2019 3:10 PM SGT
SINGAPORE (EDGEPROP) – Chairman of Worldwide Hotels Choo Chong Ngen had dropped out of school at the age of 14. I didnt like to study, he concedes. I was very playful and always cutting classes. However, the hotel tycoon has always been very entrepreneurial. He grew up in a kampong in Hougang, which in the early days was mainly forested area with several pig farms before it was developed into Singapores biggest HDB housing estate with 51,000 housing units.
At the age of 10, he started selling icecream for five cents to passers-by. My father didnt give me any pocket money, so I [sold] ice-cream to earn money for myself, says Choo. He went on to become a fishmonger, and then sold textiles. By the age of 21, he had saved enough to purchase his first investment property a strata-titled shop unit in Katong Shopping Centre.
Worldwide Hotels chairman Choo Chong Ngens first business was selling ice-cream at the age of 10 (Pictures: Samuel Isaac Chua/EdgeProp Singapore)
The next decade saw him amass more strata-titled shop units in Katong Shopping Centre, City Plaza, Sultan Plaza and Lucky Plaza.
He has sold most of the shop units, although we still own six units in Sultan Plaza, says his daughter, Carolyn Choo, Worldwide Hotels managing director and CEO. But since going into hotels, he has expanded his portfolio to more than 100 investment properties.
Choos hotel portfolio was recently valued at $3 billion. Choo had also developed six apartment projects in Singapore both within and outside of Geylang before focusing on hotels for the past 25 years.
His early years as a hotel owner and operator were very difficult, he says. His first hotel was at Geylang Lorong 16. I had to run around and tackle all the issues myself, says Choo in Mandarin. He is still very hands-on today. After attending board meetings most mornings, Choo will visit his hotels, resolve issues and inspect his properties to see if anything needs upgrading. My father is personally involved in the design of the hotels, says Carolyn. He likes to talk to the staff and get customer feedback.
Carolyn, Choos only daughter, is managing director and CEO of Worldwide Hotels Group
Edgeprop.sg(previously known as The Edge Property Singapore) is the best property portal for home-seekers, buyers, investors and real estate agents alike in Singapore. On EdgeProp, you will be able to find all the latest news and views, informational guides, historical transactions and rental searches, and research data and analysis.
Whether you are looking to buy, sell or rent apartments,condominiums, executive condos,HDB flatslanded housesorcommercial properties, we bring you Singapores the most comprehensive and up-to-dateproperty newsand thousands of listings to facilitate your property decisions.
Make better decisions with our easy-to-use free and paid tools. TheEdge Fair Valuetool lets users calculate the fair value of a property and find properties below market value in Singapore. Meanwhile, discover all thingsen bloc, includingSingapore en blocnews, trends and ourEn Bloc Calculator, which helps to determine the probability of a Singapore project being put up for collective sale.
Aside from that, EdgeProp also offers amarket trendtracker that lets you access historical property data, sales volume and compare how similar properties are selling, aheat mapthat lets you find out where all Singapores most popular property sales locations are, aHDB lease toolthat lets you calculate your HDB tenure, anaffordability calculator, and a propertywatch listto track your preferred Singapore property by project or location, as well asnew launches.
On the lookout for undervalued property or buying to rent? EdgeProps powerful searchfilterslet you personalise your property-seeking experience whether you are looking for a property nearMRT stations, amenities likeschoolsandchildcare centres, or a good-value condo with a sea view so that you find exactly what you are looking for.