Singapore's Most Expensive Landed Property Sale Sets New Record
A luxury landed property in Singapore has set a new record for the highest price per square foot, purchased by a prominent heir from a banking dynasty.
The S$93.9 million acquisition of a prestigious Good Class Bungalow (GCB) in the prime Tanglin Hill area was completed last month, according to property records reviewed by Bloomberg News. The buyer, Diona Teh Li Shian, is the daughter of the late Teh Hong Piow, the visionary founder of Public Bank—one of Malaysia’s largest financial institutions. Teh has yet to respond to inquiries, while a spokesperson for Public Bank declined to comment.
This landed property is currently being developed by Meir Homes, a reputable builder of Good Class Bungalows in Singapore. The plot, originally purchased for S$30 million in 2022, is undergoing an exclusive transformation into a lavish mansion. However, Meir Homes’ principal, Sebestian Soh, declined to provide further details.
A Luxury Landed Property With Unparalleled Features
The newly constructed landed property is a two-storey home with a basement, spanning a total floor area of 2,756 square metres. Designed with opulence in mind, its interiors will feature exquisite Japanese oak and premium European-imported materials. The exterior will be adorned with elegant stone cladding.
Among its standout features, this luxury landed property will include:
A 25-metre swimming pool with a dedicated tanning deck
A walk-in wine chiller for connoisseurs
An 18-seater private theatre for an immersive entertainment experience
A Record-Breaking Landed Property Purchase
Diona Teh, a Singapore citizen, is one of four children of the late banking magnate Teh Hong Piow. Since her father’s passing in 2022, she has been a prominent representative of the family’s business interests. The Teh family maintains significant control over Public Bank, holding more than 20% of its shares, according to Bloomberg data.
Good Class Bungalows (GCBs) remain the pinnacle of landed property ownership in Singapore due to their exclusivity. With only around 2,800 GCBs available, these prestigious homes are mostly restricted to local buyers.
Situated near the Orchard Road shopping district and key embassies, the newly acquired landed property sits on a 1,408-square-metre plot. The purchase set a record price of approximately S$6,197 per square foot, further cementing the demand for ultra-luxury landed properties in land-scarce Singapore.
(Source: Bloomberg / The Business Times)