Holland Rise GCB owned by former minister Mah Bow Tan sold for S$50 million: EdgeProp
Former Minister for National Development Mah Bow Tan sold his Good Class Bungalow (GCB) at Holland Rise for S$50 million in Aug 2023, according to an EdgeProp report.
The 28,376 sq ft (2,636.22 sq meters) house was previously bought in 1992 by the minister, the report also stated.
The GCB is located off Holland Road in District 10 and joins a list of other GCBs that were put on sale previously. One such GCB in the estate was put on the market for S$106 million in 2022 by Knight Frank Singapore.
Source: Google Maps
Holland Rise GCB sold by Mah Bow Tan for S$50 million according to EdgeProp
According to an EdgeProp report on Monday (4 Mar), Mr Mah bought the freehold GCB along Holland Rise in 1992.
The Holland Rise GCB was reportedly sold last year, with the contract signed in April and the transfer of ownership concluded in August.
Independent checks by MS News confirm that Wang Qianqian is the current owner of the Holland Rise GCB.
EdgeProp reported that she is a Singaporean citizen born in China. Her brother, Wang Tianlong, bought a GCB at Leedon Park, which sits on a freehold site of 21,584 sq ft (2,005 sq metres).
The Holland Rise plot is located close to Holland Road MRT Station, Holland Drive Market & Food Centre, One Holland Village, and Chip Bee Gardens.
Steep property prices seen at Holland Rise
Properties along Holland Ris have fetched steep sale prices in recent years.
In Jan 2021, Cushman & Wakefield put up a 52,992 sq ft (4,923 sq metres) freehold empty GCB plot at Holland Rise for a guide price of S$68 million, Business Times reported.
But in Nov 2022, the same GCB plot was put on the market for S$106 million.
According to property site 99.co, there are roughly 2,800 GCB plots in Singapore.
They are highly sought after due to their size and premium location — they’re located in Districts 10 and 11.
Other GCBs have been sold at similar prices.
For example, EdgeProp reported that 54 Cornwall Gardens was sold for S$47 million. Another property, 32 White House Park, was sold for S$45.5 million.
Retired from politics in 2015
Mr Mah previously served as Minister for National Development between 1999 and 2011. He was also a Tampines GRC MP from 1988 to 2015 before he retired from politics at the 2015 General Election.
He also presided over the formation of the Land Transport Authority (LTA) and the opening of the North-East MRT line.
Since then, he has taken up roles in the private sector. He was last reported as the non-executive deputy chairman and non-independent director at GYP Properties.
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Featured image adapted from Google Maps.
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