This story was first published on April 15, 2021, and updated on July 14, 2021.
We might only be just over halfway into the new year, but the local property scene has already been incredibly dynamic; with some private residential purchases this year even breaking records.
Below, we highlight the most notable property purchases so far this year, from significant Good Class Bungalow (GCB) acquisitions to the bulk purchase of all the units within Eden, the Thomas Heatherwick-designed luxury condominium.
1. Bin Tong Park GCB purchased by Grab CEO Anthony Tan’s Wife
Chloe Tong, the wife of current Grab chief executive officer Anthony Tan, has recently procured a freehold GCB in Bin Tong Park for $40 million. Situated at District 10 near the buzzy Holland Village and Bukit Timah enclaves, the 21,637sqft GCB purchased by Tong works out to be a total of $1,849psf. This exceeds the last transacted purchase in Bin Tong Park, recorded in December 2020, which had a price tag of $1,685psf.
Tong’s new property is expected to be redeveloped as it was first built in the 1990s. The high-profile deal comes just as Grab is planning to go public in the US through a US$40 billion Special Purpose Acquisition Company (SPAC) deal later this year.