HomeNewsDaughter of UOB CEO, Wee Ee Cheong, Buys GCB At Ford Avenue
UOB CEO Daughter Buys GCB Ford Avenue

Daughter of UOB CEO, Wee Ee Cheong, Buys GCB At Ford Avenue

Grace Wee Jingsi, the youngest child of UOB CEO, Wee Ee Cheong, is buying the good class bungalow (GCB) at Ford Avenue in the Holland area for S$39.5 million according to property filings lodged March-end seen by Bloomberg News. 

The seller of the Ford Avenue GCB is Choo Chiau Beng, whose former roles include being CEO of infrastructure giant now known as Keppel and Singapore’s non-resident ambassador in Brazil. He acquired the more than 19,500 square feet house in 2007, the records show. 

GCB is the highest class of property in Singapore, which number to about 2,800 and are highly coveted by the ultra-rich. The March transaction price is more than double that of a slightly larger mansion in the area, which was sold in 2019 for US$17 million.

The transaction also comes amid renewed attention on where the Wee family’s US$10.6 billion fortune will be dispersed, after the death of its patriarch Wee Chow Yaw in February. Grace’s father Wee Ee Cheong became the richest of the late Wee’s children, with a net worth of US$4.6 billion according to Bloomberg estimates. 

Grace, a former consultant at Boston Consulting Group, now runs a wellness club in Singapore, and like Ee Cheong’s two other sons, is not actively involved in UOB’s banking business. 

(Source: EdgeProp)

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