**Indonesian Billionaire’s Granddaughter Acquires Luxury Singapore Bungalow for S$25 Million**
A granddaughter of the late Indonesian billionaire Eka Tjipta Widjaja has made headlines by purchasing a prestigious bungalow in Singapore for S$25 million (approximately $19 million). Mimi Yuliana Maeloa acquired the property, which spans nearly 767 square meters (8,256 square feet) on Chatsworth Avenue, as per a property filing from late June.
Situated close to Singapore’s prominent Orchard Road shopping district, the bungalow is part of an exclusive area designated for luxurious mansions, known as good class bungalows. With only about 2,800 such properties available, they are highly sought after by the ultra-wealthy. Foreign buyers face significant challenges in acquiring these homes, including the necessity for government approval.
Maeloa, a Singapore citizen, is the daughter of Sukmawati Widjaja, also known as Oei Siu Hoa, and is one of the heirs of the late tycoon who established a multi-billion dollar business empire spanning industries from paper and pulp to financial services before his passing in 2019. She has a background in investment banking, having worked with firms such as Goldman Sachs Group Inc., and has served as a director at Top Global Ltd, a property company managed by her family, since 2010. Additionally, she is the director of a family office, SW Global Management Pte, which was registered in 2022.
The bungalow was sold by Raymond Phee, the CEO of a local distributor of electrical appliances and stationery, among other roles. Neither Maeloa nor Phee responded to requests for comments regarding the sale.
The recent transaction highlights the soaring property prices in Singapore’s luxury market. Earlier this year, a mansion in Tanglin Hill set a record by selling for S$93.9 million, achieving a staggering price of S$6,197 per square foot—more than double the rate of the Chatsworth property.
As the demand for high-end real estate continues to rise, the acquisition by Maeloa underscores the allure of Singapore’s luxury housing market among affluent buyers.
**FAQ**
*What is a good class bungalow in Singapore?*
A good class bungalow is a type of luxury residential property in Singapore, characterized by its exclusivity and spaciousness. There are only about 2,800 of these properties, making them highly desirable among the wealthy.
