Madam Tan Sook Eng places her luxurious property on the market following family’s debt settlement.
Madam Tan Sook Eng, the wife of convicted Hin Leong Trading founder Lim Oon Kuin, has listed her 999-year leasehold Good Class Bungalow (GCB) at Queen Astrid Park for $100 million. This sale comes shortly after the Lim family agreed to pay US$3.5 billion to liquidators of the now-defunct oil trading firm.
The property, purchased in 2017 for $46 million, spans 29,709 sq ft and boasts a built-up area of around 20,000 sq ft. It features six bedrooms, seven bathrooms, a lift, a private lap pool, a gym, and space for 16 cars. The bungalow underwent a $10 million renovation three years ago, and its asking price of $100 million equates to about $3,366 per square foot (psf).
In the context of rising property values, especially in the Bukit Timah and Holland Road GCB areas, experts suggest the total cost of a newly built house in this area now exceeds $3,100 psf. The most recent GCB transaction in the area was an $86 million sale to TikTok CEO Chew Shou Zi in 2021.
The sale follows the Lim family’s ongoing financial struggles since Hin Leong’s collapse, including asset sales under a High Court-ordered freeze to address a significant debt.
