Iqbal A. Jumabhoy
Born in Singapore
The family expanded into real estate, developing their family property on Orchard Road into the Scotts Shopping Center, which was the country’s first managed mall when it opened in 1982. They started a food court, the first in any mall in Singapore, and launched the Ascott, the country’s first branded serviced apartments, in 1984. At its peak their listed Scotts Holdings had assets over $600 million and a presence in the U.K. and Australia, apart from Southeast Asia.
Iqbal is the chief executive of SilverNeedle Hospitality, which currently manages over 4,500 hotel rooms in the Asia-Pacific region with a target of increasing this to 10,000 by 2015.