The Haidilao family is the richest in Singapore and it comes as no surprise for them to buy one of the most prestigious property types in the country.
They have been given the option to buy a $42 million bungalow at Gallop Road near Singapore Botanic Gardens.
The son of Haidilao co-founder Zhang Yong was offered the option in Dec.
According to The Business Times, the bungalow will sit beside the family’s existing property, which occupies 15,884 sq ft and was acquired in 2016.
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The freehold site that they are interested in will be larger and more expensive, coming in at 21,647 sq ft and $1,940 per sq ft.
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Both properties are located in Gallop Road, one of Singapore’s Good Class Bungalow areas.
Good Class Bungalows are some of the highest-end properties in the market.
They are located in prime residential districts such as Nassim Road and Cluny Road.
The price tags of these landed properties conjure up images of movie scenes from Crazy Rich Asians.
Other Singapore permanent residents and naturalised citizens have been acquiring high-end properties as well.
According to Vulcan Post, Dyson founder and Singapore permanent resident James Dyson bought Singapore’s most expensive and largest penthouse at Wallich Residence at an eye watering price of $73 million.
However, this property has since been sold at a loss of $11.8 million.
Alibaba co-founder James Sheng, a naturalised Singapore citizen, bought a Leedon Park bungalow for $50 Million.
It comes as little surprise that the Haidilao family may be buying another home in one of the most sought-after neighbourhoods in the country.
While the home has an eye-watering price tag, this is further proof that the founder of the iconic hot pot brand has chosen to place his roots here.
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Featured image adapted from Google Maps. Image for illustration purposes only.
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