S$84 million bungalow in Bin Tong Park GCB area acquired by daughter of Chinese tycoon
A Good Class Bungalow (GCB) in Bin Tong Park was recently sold for a whopping S$84 million.
The extravagant property found a new owner in Xiang Yangyang, the daughter of Tsingshan Holding Group founder Xiang Guangda.
Xiang Guangda
Source: China Times
Tsingshan Holding Group is the world’s largest nickel and stainless steel producer.
Bin Tong Park property includes multiple facilities
According to Bloomberg, Ms Xiang’s new GCB boasts an impressive land area of 28,111 square feet, translating to about S$2,988 per square foot.
Source: Lianhe Zaobao
The transaction was finalised in mid-April.
The Business Times (BT) reported that the two-storey freehold bungalow has enough space for eight to 10 parked cars.
With a total built-up area of approximately 18,000 sq ft, the property consists of multiple features including six bedrooms, a 19-metre pool, a wine cellar, a theatre, and a gym.
Purchased GCB from former hedge fund manager
Ms Xiang reportedly acquired the property from Nitin Sibal, a former hedge fund manager involved in the software and applications development business.
Mr Sibal had purchased the land for S$37.6 million in 2020.
Both Ms Xiang and her mother are both Singapore citizens and are based here.
MarketScreener data reveals that Ms Xiang holds the position of non-executive director at REPT BATTERO Energy alongside her role as the Strategic Investment Department General Manager at Shanghai Decent Investment Group.
Lianhe Zaobao noted that she is in her 30s.
She previously worked at Citibank and Golden Harbour International.
Also read: Sea Ltd co-founder Forrest Li’s wife reportedly buying S$42.5M GCB beside his S$26M bungalow
Sea Ltd co-founder Forrest Li’s wife reportedly buying S$42.5M GCB beside his S$26M bungalow
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Featured image adapted from Lianhe Zaobao and Google Maps.
