Shesh Ghale, president of Non-Residential Nepali Association (NRNA), and his wife Jamuna Gurung have been ranked 101st in the latest list of wealthy Australians.

The Ghale couple climbed up four-position in the Australia's Financial Review Rich List 2017 that records the changing fortunes of the country's wealthiest 200 individuals.

According to the Financial Review Rich List 2017, Ghale couple's wealth has increased to $647 million, $61 million more than what they had last year. They were ranked 105th last year.

The Australia-based newspaper mentions that the duo had a combined worth of $586 million in 2016. Ghale was elected the president of the NRNA, umbrella organisation of non-resident Nepalis, for second time in 2015.

Ghale, who first went to Australia in 1990 as a student, was first elected as the NRNA president in 2013. An eminent business personality in Australia, Ghale has made investment in hospitality, education and real-estate sectors. 

In 2014, Ghale began constructing a 5-star hotel in Kathmandu.

The $81 million 17-storey luxury property promoted by Ghale is also one of the largest foreign direct investments in Nepal. US-based Starwood Hotels and Resort Worldwide Inc, one of the world’s largest hotel companies that owns, operates, franchises and manages hotels and resorts, will manage the hotel under its Sheraton brand.

The Sheraton Kathmandu Hotel will be located on Kantipath adjacent to the office of Keshar Library, opposite the west gate of the Narayanhiti Palace Museum. The hotel, which is due to open by 2018, will be spread over 14 ropanis of land. The new hotel will offer 218 suites and guest rooms, a health club, spa and retail outlets and provide 450 new jobs. It will also feature a 1,000-seat conference hall which will be the biggest hall in Kathmandu, the group claimed. In addition, there will be two conference rooms, three meeting rooms and a board room.