Koh's Good Class Bungalow (GCB) site at Lornie Road (Photo: SRI)
Cover Koh's Good Class Bungalow (GCB) site at Lornie Road (Photo: SRI)

The property magnate has purchased not just one, but two properties within the span of two months: a good class bungalow (GCB) and a bungalow on a massive plot

As the executive chairman and chief executive officer of property developer Fragrance Group, Koh Wee Meng has more than a few properties under his belt.

The billionaire, who also leads the group’s hotel development arm Global Premium Hotels, has recently added two more properties into his personal real estate portfolio: a bungalow at Hillside Drive that he purchased for SG$19.25 million, as well as a SG$24.8 million Good Class Bungalow (GCB) at Lornie Road.

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Freehold residential property Urban Treasures, which belongs to the Fragrance Group (Image: Fragrance Group)
Above Freehold residential property Urban Treasures, which belongs to the Fragrance Group (Image: Fragrance Group)
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City Gate condominium is a joint venture between Fragrance Group and developer World Class Land (Image: Fragrance Group)
Above City Gate condominium is a joint venture between Fragrance Group and developer World Class Land (Image: Fragrance Group)

Located at Hillside Drive, a private housing estate off Yio Chu Kang Road, the bungalow Koh recently purchased is part of a massive 21,046 sq ft land area, purchased at SG$915 per square feet. According to a caveat lodged with the Urban Redevelopment Authority’s (URA) Realis statistics portal, the deal was completed in mid-December last year. 

The 999-year leasehold site is also reportedly one of the few remaining big land plots within the area, according to EdgeProp Singapore. If Koh tears down the current old bungalow sitting on the plot and does not wish to redevelop the area into houses, he may also build a low-rise condominium as the site is not a landed housing zone.  

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Koh's Good Class Bungalow (GCB) site at Lornie Road (Photo: SRI)
Above Koh's Good Class Bungalow (GCB) site at Lornie Road (Photo: SRI)

The property magnate’s second big-ticket purchase—the GCB at Lornie Road—currently sits on a 25,272 sq ft freehold site. The GCB, constructed in 1982, was purchased for SG$24.8 million, which translates to SG$981 psf for the area. While access to the property is currently from Lornie Road, Koh has the option to connect the quieter Joan Road instead, subject to approval from the relevant authorities.

While the caveat was lodged with URA Realis on Jan 4, the deal has reportedly been sealed since last October. The sale was brokered by Bruce Lye, managing partner of SRI.

Read more: 5 Good Class Bungalows with Beautiful Interiors

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