Cover The Caldecott Hill GCB site along Joan Road, in the process of being purchased by the Koufu family
The Caldecott Hill GCB site along Joan Road, in the process of being purchased by the Koufu family
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Spanning 39,276 sq ft, this freehold GCB site in Caldecott Hill is being purchased by the sons of Koufu Group founders Pang Lim and Ng Hoon Tien
The family of Koufu Group founders Pang Lim and Ng Hoon Tien appears to be in the process of buying a generously sized GCB site along Joan Road in Caldecott Hill for S$58 million, with an area of 39,276 sq ft and two existing Good Class Bungalows. The site is reportedly being purchased by the sons of the husband-and-wife founders, who are behind various food courts and other food and beverage businesses in Singapore.
The sons could potentially redevelop the property into a single residence with a grander footprint, or retain the two distinct abodes, currently separated by a low wall.
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Above A closer look at the GCB site, which contains two existing Good Class Bungalows
A closer look at the GCB site, which contains two existing Good Class Bungalows
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The price tag of S$58 million works out to S$1,477 per square foot on this freehold site in Singapore’s prestigious District 11. The square footage covers a depth of 95 metres and a width of 42 metres, with a regular shape that makes it a pleasant residential plot in a quiet and verdant neighbourhood, perfect for affluent residents looking for privacy.
Located just 400 metres from the Caldecott MRT station, it is also within easy reach of MacRitchie Reservoir and various other attractive locales.
Read more: 12 record-breaking Good Class Bungalow sales from the last 10 years
Above The site is private and visually sheltered from passersby
The site is private and visually sheltered from passersby
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The property was initially publicised through an expression of interest exercise, with an indicative price of S$62.8 million. The S$58 million sale to the Koufu Group family was reportedly brokered by Realstar Premier in April 2025.
The existence of just 2,700 Good Class Bungalows in Singapore’s 39 gazetted GCB areas makes these properties particularly prestigious, their status further enhanced by strict planning conditions, partly in place to preserve exclusivity and the low-rise character of these landed houses.
Characterised by a minimum plot size of 1,400 square metres (roughly 15,070 sq ft) among other key qualities, Good Class Bungalows continue to be highly sought after in Singapore’s high-end property market, as shown by recent purchases of GCBs in enviable neighbourhoods around the city.
Above Verdant and quiet, Joan Road is an attractive area for affluent residents
Verdant and quiet, Joan Road is an attractive area for affluent residents
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Credits
Images: Courtesy of Google Maps and Google Street View
