A family member of hotpot chain Haidilao’s co-founder Shi Yonghong bought a freehold bungalow at Cluny Hill that came with a hefty price tag of $85 million, reported the Business Times (BT).
The bungalow is located next to the one owned by Shi that was bought for $50 million in 2022 from Dr Lee Wei Ling, daughter of Singapore’s founding Prime Minister Lee Kuan Yew.
Dr Lee died in 2024.
Notably, both properties are in the Cluny Hill Good Class Bungalow Area.
The $85 million transacted price was lower than the asking price of $110 million, reported BT, citing market watchers who said that Good Class Bungalow (GCB) owners have lowered their price expectations in recent years.
