TikTok CEO Chew Shou Zi Acquires $86 Million GCB

Good Class Bungalows are notoriously exclusive and coveted—and TikTok's CEO is in the process of scooping up one for SG$86 million

Chew Shou Zi, the Singaporean chief executive officer of TikTok, made headlines over the weekend for being in the midst of purchasing an SG$86 million purchase of a Good Class Bungalow (GCB) at Queen Astrid Park.

As reported by Business Times, the GCB currently sits on a massive land area of 31,800sqft; this works out to be a total of SG$2,700 per square foot (psf), an above-average price tag for a property in the area. Located in District 10, one of the most affluent residential districts, the Queen Astrid Park area is in close proximity to neighbourhoods such as Holland Road and Bukit Timah.

Above Chew Shou Zi was appointed the chief executive officer of TikTok in April 2021 (Photo: LinkedIn / Chew Shou Zi)

Chew reportedly has plans to overhaul and redevelop the existing property. Previously the chief financial officer of Bytedance, the 38-year-old took over the reins as the head of the popular social media app TikTok in April this year. Before joining TikTok, Chew was the chief financial officer of Chinese smartphone giant Xiaomi.

Chloe Tong, the wife of Grab CEO Anthony Tan, purchased a GCB in Bin Tong Park in mid-July Image: Getty

Above Grab CEO Anthony Tan's family purchased a GCB in Bin Tong Park in mid-July (Image: Getty)

With his upcoming purchase, Chew joins the growing list of other tech heads who have recently purchased these exclusive properties. In mid-July this year, Chloe Tong, the wife of Grab chief executive Anthony Tan, purchased a SG$40 million GCB located at Bin Tong Park.

Above Secretlab co-founder Ian Ang purchased a GCB on Olive Road in earlier this year (Photography: Darren Gabriel Low)

Prior to that, Ian Ang, the chief executive officer of homegrown gaming chair giant Secretlab, purchased two luxury properties for SG$51 million in the span of one week. The 28-year-old reportedly scooped up a GCB in the Caldecott Hill Estate for SG$36 million, before purchasing a five-bedroom triplex penthouse at Leedon Residence for $15 million.

According to a report by luxury realtor Sotheby's International Realty, there have been more than 50 GCB purchases within the first half of 2021, surpassing the mere 46 deals that took place in 2020. The fast-paced purchases total to an amount nearing SG$1.4 billion.

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TikTok Chew Shou Zi GCB Good Class Bungalow Property purchases Ultra-luxury property

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TikTok CEO Chew Shou Zi is Acquiring a $86 Million GCB: All You Need to Know