Downtown Singapore mansion on the market for a record price
A downtown mansion near Singapore's Orchard Road is going on the market for a jaw-dropping S$300 million (HK$1.88 billion), with the owner betting that developers may profit from dividing the site.
A downtown mansion near Singapore's Orchard Road is going on the market for a jaw-dropping S$300 million (HK$1.88 billion), with the owner betting that developers may profit from dividing the site.
If it fetches the asking price, the home on 33 Nassim Road, owned by Wing Tai Holdings chairman Cheng Wai Keung, would set a Singapore record. It would also be one of the highest prices ever paid for a home, anywhere.
The 85,000-square-foot site on an elevated lot near the Botanic Gardens includes a two-storey home, swimming pool and tennis court, according to Jones Lang LaSalle, the sole marketing agent.
"These kinds of assets come onto the market once in 10, 15 or even 20 years," said Karamjit Singh, of Jones Lang LaSalle in Singapore. "The potential buyers of this league would be able to recognise the opportunity."
These kinds of assets come onto the market once in 10, 15 or even 20 years. The potential buyers of this league would be able to recognise the opportunity
Singh estimated the property, which is in an area that includes the residence of the British high commissioner and the embassies of Japan and Russia, could fetch between S$250 million and S$300 million.