Singapore condo fetches US$54m

Technology | AGENCE FRANCE-PRESSE 11 Jul 2019

British billionaire inventor James Dyson has reportedly paid US$54 million (HK$421.2 million) for Singapore's biggest, most expensive penthouse: a three-floor residence with a rooftop terrace, private pool, and jacuzzi.

His electric appliance company, known for its bagless vacuum cleaners, hand dryers and fans, announced this year it was shifting its global headquarters from England to the city-state to be closer to Asian markets.

The firm also plans to produce electric cars there, as part of its expansion east after Britain's decision in 2016 to leave the EU.

The Brexit-backing tycoon purchased the 1,960 square meter "super penthouse," Singapore's Business Times newspaper reported. A Dyson spokesman declined to give details of the purchase, but a land title document seen by media lists Dyson, 72, and his wife Deirdre as joint tenants of the 99-year leasehold property, with the sale registered on June 20.

The luxury home at Wallich Residence sits on the top three floors of a 64-story, 290-meter high tower - the tallest in Singapore - which is in the business district and has panoramic views over Singapore, including popular waterfront area Marina Bay.

It has five bedrooms, each with their own en-suite bathroom, a private garden and viewing deck on the 62nd floor. It also has a private lift, storage for 600 bottles of wine, and a round-the-clock dedicated butler service.

The cost is below a price tag of more than S$100 million (HK$574.4 million) originally sought for the property.

It is the highest price paid for a condo in the city-state - where property is among the world's costliest - beating the nearly S$60 million paid by Facebook co-founder Eduardo Saverin for a penthouse in 2017, according to local media.

Last month, a 1,022 square meter luxury penthouse reportedly sold for S$52 million.

Singapore has long attracted wealthy residents from around Asia and the world - a trend that has helped fuel a rise in property prices over the years.

The government has taken steps to cool the property market - in July last year, they raised buyers' fees and tightened loan requirements.

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