Late Singapore property tycoon's freehold bungalow put on sale at nearly $65M
A freehold bungalow in Singapore that was once home to the late property tycoon Chng Gim Huat is on sale at a guide price of S$83 million (US$64.8 million).
The last property of late Singapore property tycoon Chng, who founded the CGH Group, has been put up for sale at an impressive price of nearly $65 million. The freehold bungalow in prime District 11 boasts a massive 51,700 square feet (4,803 square meters) of space, with a road frontage of approximately 58 meters. Listed on PropertyGuru, the listing is open for public tender until November 12, with Knight Frank Singapore acting as the exclusive agent.
Located near the Singapore Island Country Club, Keppel Club, MacRitchie Reservoir, and Singapore Botanic Gardens, the estate offers flexible options for redevelopment. Initially put on the market last May at a price tag of $82 million (S$1,586 per square foot), the property was later withdrawn by the family before being relisted at the current price.
Built in 1937, the pre-war bungalow was purchased by Chng in the early 1970s and remained his residence until his death in August 2024 at the age of 90. The tycoon's career began in the construction industry during the 1960s, where he constructed public Housing & Development Board flats. He later transitioned into property development during the 1980s, with notable developments including the Paya Ubi Industrial Park in District 14, the CGH Building on Killiney Road, and the Orchid Hotel in Tanjong Pagar. The latter was recently sold for $273 million.
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