The price is nearly double the S$38.8 million Chrissy Luo paid for the property in 2011
[SINGAPORE] A freehold bungalow in Tanglin Hill has been sold for S$76 million, or about S$3,169 per square foot (psf) based on the freehold land area of 23,979 square feet (sq ft).
Located within the Ridley Park Good Class Bungalow (GCB) Area, the two-storey house with a swimming pool was sold by Chrissy Luo, who paid S$38.8 million for the property in 2011. The property has been refurbished over the years.
Luo, also known as Luo Qian Qian, is the co-founder of Shanda Group.
In 1999, Luo and her husband, Chen Tianqiao, founded Shanda Interactive Entertainment. It listed on Nasdaq in 2004 and expanded into a big-time online entertainment developer and publisher in China.
In 2012, Chen and his family took the company private and repositioned it as a global investment group. Besides the United States, the group has offices in Hong Kong, Shanghai and Singapore, among other locations.
The couple’s active philanthropy endeavours include the Tianqiao and Chrissy Chen Institute, which supports human brain research.
Chen’s work in recent months has focused on “discoverative” intelligence and structured temporal intelligence, with the aim to create artificial intelligence systems that act as collaborative partners in the scientific process. This is according to a blog post on MiroMind, an AI startup he founded last year.
In 2009, the couple moved from Shanghai to Singapore, and relocated to California in late 2017, based on media reports.
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