Gaming co-founder and CEO Tan Min-Liang is in the early stages of buying good-class (GCB) bungalows along Third Avenue.
The capacity of the GCB he is looking at should cost $ 52.8 million and has an area of 30,954 square meters, Business Times reports. That means 1,706 S $ per square meter. It is stated that the transaction is in the option allocation phase.
It takes less than a 10-minute walk from the property to Sixth Avenue MRT Station.
GCBs are the most prestigious properties that can be owned in the real estate market in Singapore. The government imposes restrictions, such as the design of the property to be developed and that only a Singaporean can buy a GCB.
Tan’s latest hunting hunt is the latest of the other technology founders who have amassed GCB in Singapore’s hot real estate market.
Earlier today, it was reported that the family of Grab CEO Anthony Tan had it bought a GCB worth $ 40 million near Holland Village.
Less than 10 days ago, Secretlab co-founder Ian Ang also bought GCB.
Transactions with GCBs in the last six months exceeded the full last year, with 53 transactions totaling $ 1.5 billion, URA Realis warnings showed. Last year, there were 46 deals worth $ 1.1 billion for the full year.
The man who made himself: Tan Min-Liang
Tan is on Singapore’s 2020 list 50 richest people on Forbes. According to that page, it has a net worth of 650 million US dollars.
He is said to be 44 years old this year. The self-deprecating man gave up his legal career to start the gaming firm Razer in 2005.
Razer has significant sponsors, including Temasek Holdings and Li Ka-shing’s Horizon Ventures.
Razer entered the market in 2017 in Hong Kong, collecting about 530 million US dollars.
Credit for featured paintings: August Man
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