**Record-Breaking Luxury Mansion Purchase in Singapore**
A luxury mansion in Singapore has been acquired at an unprecedented price per square foot by a member of a prominent banking family. The S$93.9 million ($70.3 million) purchase of a Good Class Bungalow, currently under construction in the Tanglin Hill area, was finalized last month, as per property records. The buyer, Diona Teh Li Shian, is the daughter of the late Teh Hong Piow, founder of Public Bank Bhd.
### Key Details of the Purchase
– **Who**: Diona Teh Li Shian, daughter of late tycoon Teh Hong Piow.
– **What**: Purchase of a Good Class Bungalow.
– **When**: Transaction completed last month.
– **Where**: Tanglin Hill area, Singapore.
– **Why**: The property is highly sought after due to its location and exclusivity.
### About Good Class Bungalows
Good Class Bungalows are among the most desirable properties in land-scarce Singapore, with only around 2,800 available. Ownership is primarily limited to local citizens. The newly acquired property is strategically located near Orchard Road, Singapore’s main shopping district, and various embassies.
– **Size**: Approximately 1,408 square meters (15,150 square feet).
– **Price per Square Foot**: A record S$6,197.
### Property Features
The mansion, being developed by Meir Homes, will feature:
– A total floor area of 2,756 square meters.
– Interior finishes including Japanese oak and imported European materials.
– Exterior stone cladding.
– Amenities such as:
– A 25-meter swimming pool with a tanning deck.
– A walk-in wine chiller.
– An 18-seater home theater.
Diona Teh, a Singapore citizen and one of four children of the late Teh, has become a public figure for the family since her father’s passing in 2022. The Teh family retains significant control over Public Bank, which is now Malaysia’s second-largest lender by market value.
### Conclusion
This record-setting purchase highlights the ongoing demand for luxury properties in Singapore. What do you think about the rising prices of luxury real estate in urban areas?
**FAQ: What is a Good Class Bungalow in Singapore?**
A Good Class Bungalow is a prestigious type of residential property in Singapore, characterized by its exclusivity and limited availability, with ownership primarily restricted to local citizens.
