{"id":112284,"date":"2019-11-11T14:14:18","date_gmt":"2019-11-11T07:14:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-xiaomi-director-buys-tanglin-hill-gcb-for-31-5m\/"},"modified":"2019-11-11T15:04:42","modified_gmt":"2019-11-11T08:04:42","slug":"former-xiaomi-director-buys-tanglin-hill-gcb-for-31-5m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-xiaomi-director-buys-tanglin-hill-gcb-for-31-5m\/","title":{"rendered":"Former Xiaomi director buys Tanglin Hill GCB for $31.5m"},"content":{"rendered":"


\nLocated within the Ridley Park GCB area, the freehold bungalow is more than 30 years old and is nestled on a 16,446 sq ft site.
\nHong Kong-listed Xiaomi Corporation\u2019s former board member, Koh Tuck Lye, has acquired an old good class bungalow (GCB) along Tanglin Hill for $31.5 million or $1,915 per square foot (psf), reported Business Times.
\nLocated within the Ridley Park GCB area, the freehold bungalow is more than 30 years old and is nestled on a 16,446 sq ft site.
\nKoh, a Singaporean who is also known as Xu Dalai, is expected to tear down the District 10 property to make way for a new house.
\n\u201cThe land value fetched by the property is likely to be the highest in the Ridley Park GCB Area,\u201d noted List Sotheby\u2019s International Realty (List SIR).
\nThe seller in this transaction is represented by List SIR senior associate vice-president Steve Tay. \u201cBased on caveats lodged, the last GCB that changed hands in Tanglin Hill was three years ago. Located one street away, the 17,728 sq ft freehold site fetched $27.5 million ($1,551 psf) in March 2016,\u201d he said.
\nBungalows within the 39 gazetted GCB Areas are considered Singapore\u2019s most prestigious form of landed housing. These properties come with strict planning conditions to preserve their low-rise character and exclusivity.
\nList SIR revealed that the family selling the bungalow has decided to move to a larger GCB. It purchased the property in 1984.
\nRELATED: bungalows in Singapore and how to own one
\nMeanwhile, Koh has resigned as Xiaomi Corporation\u2019s non-executive director and audit committee member last month to focus on venture capital firm Shunwei Capital.
\nThe firm was co-founded by Koh with Xiaomi\u2019s chairman, CEO and co-founder Lei Jun. The latter will serve as Shunwei Capital\u2019s chairman, while Kho will serve as CEO.
\nInformation from Xiaomi\u2019s 2018 annual report showed that Koh holds a bachelor\u2019s degree in mechanical engineering from the National University of Singapore.
\nLooking for a GCB in Singapore? Find all GCBs for sale here.
\n\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Former Xiaomi director buys Tanglin Hill GCB for .5m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Located within the Ridley Park GCB area, the freehold bungalow is more than 30 years...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-112284","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-td2","jetpack-related-posts":[{"id":93023,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-bungalow-at-sixth-avenue-up-for-sale-at-16m\/","url_meta":{"origin":112284,"position":0},"title":"Freehold bungalow at Sixth Avenue up for sale at $16m","date":"July 3, 2018","format":false,"excerpt":"\r The old single-storey bungalow near Sixth Avenue MRT station was built around the 1980s. (Photo: JLL) A freehold bungalow at 45 Sixth Avenue has been put up for sale carrying an asking price of $16 million or about $1,274 psf, revealed marketing agent JLL on Monday (2 July). Located\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dalvey-road-gcb-up-for-sale-offers-expected-at-over-100m\/","url_meta":{"origin":112284,"position":1},"title":"Dalvey Road GCB up for sale, offers expected at over $100m","date":"August 1, 2018","format":false,"excerpt":"\r \u00a0 A 51,058 sq ft Good Class Bungalow (GCB) at Dalvey Road has been put up for sale, with expectations that it could attract offers in excess of $100 million, revealed marketing agent JLL. 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