Video game company co-founder and CEO Tan Min-Liang is in the early stages of buying a good-class bungalow (GCB) along Third Avenue.
The privately owned GCB it is looking at is said to cost $ 52.8 million and has a plot of 30,954 square feet. Business Times reported. That translates to $ 1,706 per square foot. The transaction is said to be in the options grant 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 had in the Singapore real estate market. The government imposes restrictions, such as the design of the property to be developed and that only a Singapore citizen can buy a GCB.
Tan’s new shopping hunt is the novelty of other technology founders who have secured GCB in Singapore’s hot real estate market.
Earlier today it was reported that he had the family of Grab CEO Anthony Tan bought a GCB worth $ 40 million close to the Holland Village area.
Less than ten days ago, Secretlab co-founder Ian Ang he also bought a GCB.
GCB’s transactions over the past six months have surpassed last year’s total, with 53 bids totaling $ 1.5 billion, according to URA Realis warnings. Last year there were 46 bids worth US $ 1.1 billion for the entire year.
The self-made man: Tan Min-Liang
Tan entered the Singapore 2020 list 50 richer people and Forbes. According to the site, it has a net worth of US $ 650 million.
He is said to be 44 years old this year. The self-made man gave up the law career to start signing Razer gaming devices in 2005.
The video game company recorded its first profits since 2014 for last year, driven by the sale of keyboard hardware, mice and other hardware accessories. The company also offers a range of laptops in its systems division.
Razer has prominent sponsors, including Temasek Holdings and Li Ka-shing’s Horizon Ventures.
Razer went public in 2017 in Hong Kong, grossing approximately US $ 530 million.
Featured Image Credit: August Man