SINGAPORE: Diona Teh Li Shian, daughter of the late Teh Hong Piow, founder of Malaysia’s Public Bank, bought a luxury mansion in Singapore’s Tanglin Hill area for S$93.9 million, setting a record price of about S$6,197 per square foot (psf).
According to Bloomberg, property records showed the deal was completed last month. The Good Class Bungalow (GCB), still under construction, sits on a 1,408 square metre (15,150 square foot) plot, which was acquired for S$30 million in 2022. The property is near the main Orchard Road shopping belt and several embassies.
GCBs are highly sought after in Singapore, with only about 2,800 available and ownership mainly limited to locals.
Meir Homes, a local developer of GCBs, is building the mansion. The new two-storey house, which includes a basement, will cover a total floor area of 2,756 square metres. The interior will feature Japanese oak and imported materials from Europe, while the exterior will be finished with stone cladding. The property will also include a 25-metre swimming pool with a tanning deck, a walk-in wine chiller, and an 18-seater theatre, as per marketing materials seen by Bloomberg.
Ms Teh did not respond to queries from Bloomberg News, and a spokesperson for Public Bank declined to comment.
Ms Teh is a Singapore citizen and one of the four children of the late Mr Teh. Since her father’s death in 2022, she has been a public face for the family, which still controls over 20% of Public Bank’s shares. The bank has become Malaysia’s second-largest lender by market value. /TISG
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