Singapore – The Tsai family from Taiwan behind the snack food giant Want Want is the exclusive buyer of all 20 units at the ultra-luxury Orchard condominium worth S$293 million, reported the Business Times.
Swire Properties, the developer of the condominium Eden at 2 Draycott Park, announced on Mar 25 that all units of the high-end residence have been sold to “one exclusive buyer” for S$293 million.
“The sale of the units is significant as it reflects Eden’s distinct design, which has been combined with green living experiences, and also recognises the strength of our residential brand in this new market. Moving forward, we’ll continue to explore Singapore for more opportunities that showcase our brand and fit our business strategy,” said Guy Bradley, chief executive of Swire Properties.
According to EdgeProp, there was talk on the street that the exclusive buyer is believed to be a Chinese family.
BT confirmed on Wednesday (Apr 8) that the buyer of the garden residence to be the Tsai family behind the Want Want China Holdings.
It was reported that the chairman of the company, Tsai Eng-Meng, will be getting one apartment while his son, Tsai Shao-Chung, will purchase 18 units in one deal and the remaining unit in another transaction.
Tsai Eng-Meng is considered the third richest man in Taiwan as of 2020, with a net worth of US$ 6.3 billion (approximately S$8.4 billion), according to Forbes.
Eden was designed by multi-award-winning architect Thomas Heatherwick of London-based Heatherwick Studio in collaboration with Swire Properties.
Completed in 2019, each apartment occupies an entire floor spanning over 3,000 square feet and includes four en suite bedrooms. Each apartment has a vertical landscape of hanging gardens designed as its own “lush, private garden-in-the-sky,” noted EdgeProp.
Eden is located adjacent to The Tanglin Club across from The American Club. Each unit was priced initially at S$6,000 per square foot but was closed at about S$4,827, meaning the buyer received a 20 per cent bulk discount./TISG
Read related: One buyer pays S$293 million for all 20 units of ultra-luxury Orchard condominium
One buyer pays S$293 million for all 20 units of ultra-luxury Orchard condominium