HomeNewsChinese National Indirectly Purchased 3 Singapore Landed Properties
Chinese National Indirectly Purchased 3 Singapore Landed Properties

Chinese National Indirectly Purchased 3 Singapore Landed Properties

The 3 Singapore Landed Properties On East Coast Road Were Worth Over S$6 Million

A Chinese national was arrested upon his return to Singapore after he absconded in 2017. 

Zhan Guotuan had allegedly nominated a Singaporean couple to purchase three landed houses on East Coast Road that were restricted properties to foreigners. Foreigners are not permitted to buy landed properties on Singapore’s main island. Permanent residents must obtain prior approval from the Singapore Land Authority to buy landed property, but must have been a permanent resident for at least five years; and must make exceptional economic contributions to Singapore. 

According to court documents, Zhan was charged in 2017 with three counts of authorising two individuals – one Tan Hui Meng and one Guan Aimei – as well as Hwampoa, a company incorporated in Singapore, to buy the three Singapore landed properties

In January 2024, Tan was convicted of eight charges, including three under the Residential Property Act. He was sentenced to jail for two years, three months and three weeks, as well as fined S$3,000.

In court, prosecutors said that Zhan’s plan was to buy all the houses along a certain row in East Coast Road and redevelop them into a condominium. 

They added that Tan was Zhan’s associate in the Chinese national’s redevelopment business. 

Tan, Guan’s husband and a manager of one of Zhan’s firms, agreed to set up Hwampoa for the purpose of holding the East Coast properties. 

The court also heard that Zhan was a wealthy businessman, who had shares in about 100 organisations in China. 

In addition, he had businesses in the steel industry in Indonesia, Laos and Thailand. At the time of the offences, his annual income was around S$7 million. 

Zhan had applied to be a permanent resident in Singapore through the Economic Development Board’s Global Investor Programme, under which he and his two brothers committed around S$1.5 million as and investment in Singapore. Zhan became a permanent resident here around 2003 or 2004. 

(Source: The Business Times)

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