Look inside a Singapore supermarket billionaire’s $50 million mansion, which combines a historic bungalow with an ultra-modern house and has a 100-foot swimming pool

singapore billionaire bungalow Lim Hock Chee
The home is a “good class bungalow,” Singapore’s most rare and coveted type of real estate.

  • Singapore billionaire Lim Hock Leng lives in a $50 million historic bungalow combined with a modern mansion.
  • Lim, who co-owns Singapore’s 3rd-largest supermarket chain with his two brothers, has amassed a fortune of $1.2 billion with his brothers.
  • The mansion features a swimming pool that starts indoors and extends outside.
  • See more stories on Insider’s business page.
On a secluded, leafy street in Singapore, supermarket billionaire Lim Hock Leng lives in a $50 million bungalow.

singapore billionaire bungalow Lim Hock Chee

Lim is the co-owner and managing director of Singapore’s third-largest supermarket chain, Sheng Siong, which operates more than 60 stores in the city-state.

Lim’s older brother, Lim Hock Chee, is Sheng Siong’s CEO, while the eldest brother, Lim Hock Eng, is executive chairman. Together, the three brothers own a majority stake in the company, putting their combined net worth at $1.2 billion, according to Forbes.

Lim’s home is a “good class bungalow,” Singapore’s most rare and coveted type of real estate.

singapore billionaire bungalow Lim Hock Chee

The city-state has a limited number of good class bungalows, making them a status symbol reserved for the ultra-wealthy.

The design of Lim’s home combines a historic Singapore bungalow with an ultra-modern home.

“From the front, it looks very unassuming,” one local real-estate agent, who has visited the home and wished to remain anonymous, told Insider. “But if you look from the back it’s a monstrous house that towers over the whole neighborhood.”

The back of the home shows off the modern addition that was designed as “as a series of stepped terraces with green roofs,” according to the architecture firm.

singapore billionaire bungalow Lim Hock Chee

Singapore-based architecture firm Ta.le Architects oversaw the restoration of the colonial bungalow and designed the new bungalow.

Lim paid 35 million Singapore dollars – or about $26.2 million – for the land and the historic colonial bungalow in 2015, a spokesperson for his company confirmed to Insider.

singapore billionaire bungalow Lim Hock Chee

The executive then spent roughly SG$30 million ($22.4 million) to restore the bungalow and build the attached modern bungalow, which was completed in 2018, the spokesperson said.

That brings Lim’s total investment in the property to nearly $50 million.

The architecture firm, Ta.le Architects, dubbed the finished property “Hidden House.”

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

The home has three courtyards, one of which features a grassy lawn and sits between the historic bungalow and the modern bungalow.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

Another courtyard separates the living room and the dining room of the new bungalow and brings light and air into the center of the house.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

The third courtyard on the lowest level of the home is where you’ll find the 98-foot swimming pool, which extends from indoors to outside of the house.

singapore billionaire bungalow Lim Hock Chee

Above the pool is a staircase designed to “glow in the night,” according to the architects.

Indeed, the entire rear facade of the home does appear to glow at nighttime.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

The bungalow sprawls across 33,700 square feet.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

Rather than going for pure opulence, the architects said they designed the home to create a “minimalistic luxurious experience.”

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

Last month, Lim gave a tour of his home to the South China Morning Post and told the publication that he shares his home with different generations of his family.

singapore billionaire bungalow Lim Hock Chee

Source: South China Morning Post

The architects therefore designed large bedrooms – almost like independent apartments – to accommodate Lim’s four children and his parents.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

The bungalow’s formal dining area can accommodate at least 15 people.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

Many of the home’s common areas appear to open up to the grassy terraces.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

Photos of the home show lavish marble bathrooms. There’s also a massive walk-in closet.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

The spacious office seems appropriate for the managing director of a major supermarket group.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

The home’s amenities include a fitness center, a sauna and squash court, a pool table, and a home theater with 14 seats.

singapore billionaire bungalow Lim Hock Chee

Source: Ta.le Architects

When he set out to build the house, Lim said he told the architects, “‘You are building this house for my neighbors, not me.'”

singapore billionaire bungalow Lim Hock Chee

“When you build a house, that house has to become scenery for your neighbors,” Lim told the Post during the tour.

Lim told the Post that he considers spending so much money on a house to be a bit “extravagant.”

singapore billionaire bungalow Lim Hock Chee

But for Lim, the cost was justified. His father always wanted the whole family to live together but couldn’t afford a large enough home, Lim said, so he sees the house as realizing his father’s dream.

Read the original article on Business Insider

A tech founder’s wife just paid $96 million for a house in Singapore’s most exclusive neighborhood, marking the priciest home sale of the year

30 nassim road house singapore ladyvale
A Google Maps street view of the home’s entrance on Nassim Road.

The wife of a Singapore tech founder paid 128.8 million Singapore dollars, about $95.6 million, for a house on exclusive Nassim Road, according to property website EdgeProp.

The home sits on a 32,160-square-foot lot next to the British High Commission on Nassim Road, Singapore’s most prestigious road that’s lined with embassies and multimillion-dollar mansions. Jin Xiao Qun, who’s married to Shi Xu, the founder of Nanofilm Technologies International, bought the property from businesswoman Oei Siu Hoa, who’s also known as Sukmawati Widjaja, per the report.

Jin’s purchase is the priciest single home sale of the year, according to property records. The highest overall residential sale came earlier this month when a buyer paid SG$293 million – about $217.5 million – for all 20 units of an ultra-luxury condo building.

nassim road singapore
Nassim Road is a lush, quiet neighborhood full of mansions and embassies. Jin’s home not pictured.

Sunita Gill, CEO and founder of real-estate firm Singapore Luxury Homes, said she was surprised by the high purchase price of the Nassim Road property, noting that it’s “not ready for move-in.”

“Usually purchases like that are influenced either by a potential feng shui decision or external advice on why she was willing to pay this kind of a price,” Gill told Insider.

Known as Ladyvale Bungalow, the house was built in 1964 and sold by the British High Commission in 2000 for SG$19.3 million, according to Tatler Singapore. Oei, the most recent owner, bought the home for SG$25.5 million in 2003.

Although the home is designated as a “good class bungalow” – the most rare and coveted type of housing in Singapore – it will likely require a full renovation that could cost from SG$500 to SG$1,000 per square foot, Gill said.

“So if you calculate that into size of the property, she is potentially looking at another 20 to 30 million [Singapore dollars] just on rebuild cost,” she said.

Jin could not immediately be reached for comment for this story.

The Nassim Road home sale also breaks Singapore’s price-per-square-foot record, which was set in 2019 when vacuum billionaire James Dyson paid SG$50 million for a home on a 15,101-square-foot lot on nearby Cluny Road.

james dyson singapore house
James Dyson’s bungalow in Singapore.

Bruce Lye, cofounder and managing partner at Singapore Realtors Inc, said he thought the price was fair for the location, even considering the cost of potential renovations.

“A piece of regular land in Nassim is like fine art or wine,” Lye told Insider, adding that the prices of such properties “keep reaching new highs all the time.”

The deal hints that 2021 could be another banner year for Singapore real estate after home prices recently reached a two-year high as Singaporeans and foreign nationals snap up homes during the pandemic.

“Our high-end market is very resilient,” Lye said. “Singapore is much sought after due to our safe haven status for ultra-high-net-worth individuals. With amendments to the Global Investor Program and benefits of setting up family offices in Singapore, we will see many more eye-popping deals being inked in the near future.”

Read the original article on Business Insider