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.
Don't miss: 5 Hottest Property Trends to Watch in 2022
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.
In case you missed it: You Can Soon Live in the World’s First Real-Life NFT Luxury Mansion in Miami