Exclusive and coveted, Good Class Bungalows are known to be incredibly sought-after—this one was purchased for a total of $128.8 million
The latest owner of a Nassim Road Good Class Bungalow (GCB) is Jin Xiao Qun, the wife of Nanofilm Technologies International founder and executive chairman Shi Xu.
According to local media reports and an Integrated Land Information Service (Inlis) property title search, the GCB, sitting on a massive freehold land area of 32,159 sqft, was purchased at a record $4,005 per square foot (psf)—making it $128.8 million in total.
This is a significant increase from the $3,311psf GCB that sits on a 15,101sqft area on Cluny Road, purchased by billionaire James Dyson in 2019.
See also: James Dyson Acquires Singapore's Largest And Highest Penthouse)
Known as the Ladyvale Bungalow, the house sits next to the British High Commissioner's residence, Eden Hall. Ladyvale was built in 1964 and was sold by the British High Commission in 2000 for $19.3 million.
The previous owner that Jin purchased from was Oei Siu Hoa, also known as Sukmawati Widjaja. Oei is the younger sister of billionaire investor Oei Hong Leong, and she currently serves as the executive director at property group Top Global Limited.
The business heavyweight had purchased the house in 2003, having paid $647psf, or $25.5 million in total, for the house. According to Edgreprop, Oei is also the owner of a neighbouring GCB down the road, located on a larger freehold plot of 39,383 sqft.