HomeNewsWife of Sea Limited CEO, Forrest Li, to buy Gallop Road GCB
Wife of Sea Limited CEO, Forrest Li, to buy Gallop Road GCB

Wife of Sea Limited CEO, Forrest Li, to buy Gallop Road GCB

Is the GCB market starting to heat up?

The luxury landed property market had been in a lull after the multi-billion dollar money laundering scandal involving several GCBs and luxury condos.

It is reported that Ms Ma Liqian, wife of Mr Forrest Li, had entered into an option to buy a Good Class Bungalow (GCB) in Gallop Road for S$42.5 million. The house sits on a 1,552 sqm plot of land.

Mr Li, the founder and chief executive of Sea Limited, owns a 1,403 sq m land parcel next to the mansion, near the Singapore Botanic Gardens, which is a World Heritage Site. This was acquired in 2019, property records show.

The sale, by a family surnamed Ku, adds to a handful of transactions recently. This includes a $36 million sale in Cornwall Gardens and a separate mansion in Ford Avenue being bought for $39.5 million by a scion of the Wee family, Singapore’s richest banking dynasty.

China-born Mr Li’s fortune is primarily derived from his stake in Sea, South-east Asia’s largest internet company, which owns online shopping platform Shopee and video game developer and publisher Garena.

His wealth took a dive during a recent tech downturn, but recovered slightly after his company recorded its first full-year profit since listing.

Once Singapore’s richest person, Mr Li now has a net worth of US$3.8 billion (S$5.18 billion), according to the Bloomberg Billionaires Index.

Has your HDB reached its Minimum Occupation Period (MOP) or your private property has met its Seller Stamp Duty (SSD) window, it is prudent to plan ahead and know how much you can potentially gain if you were to list and sell your property.

This will help you to understand your next move and whether you should upgrade or right-size to your dream home. Let us help you with the essential process and framework to buy or sell your property.

When is the best time to sell and can I sell at the highest price? 

What are my options for buying a property and how can I get the best deal?

What should I look out for when buying a landed property?

Here at The Landed Collective, we specialise in residential properties and that means HDBs, Condos, Landed Houses and New Developer Sales. 

Before you start anything, speak to us for a complimentary consultation as our property agent team will provide you with comprehensive advice, run through the current market sentiments, facts & figures and answer any questions you may have.