While the fortunes of real estate tycoons across the globe plummet, Kushal Pal “KP” Singh — a billionaire who helped reshape the suburbs of India’s capital New Delhi — is bucking the trend.
The wealth of the 92-year-old businessman, whose family controls India’s largest publicly traded real estate company DLF Ltd., has increased by $5.5 billion this year, the most among the world’s real estate billionaires tracked by the Bloomberg Billionaires Index.
He’s benefiting from India’s rallying real estate market that has so far defied property woes in the US, China and Europe. In much of the world, higher interest rates and plunging valuations are pushing more and more property owners to the brink.
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