{"id":57338,"date":"2026-06-02T08:02:01","date_gmt":"2026-06-02T00:02:01","guid":{"rendered":"https:\/\/sgbuzz.com\/?p=57338"},"modified":"2026-06-02T08:02:01","modified_gmt":"2026-06-02T00:02:01","slug":"chinese-billionaire-chen-tianqiaos-wife-sells-singapore-bungalow-for-59m","status":"publish","type":"post","link":"https:\/\/sgbuzz.com\/?p=57338","title":{"rendered":"Chinese billionaire Chen Tianqiao\u2019s wife sells Singapore bungalow for $59M"},"content":{"rendered":"


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That price translated to S$3,169 per square foot (US$ 26,706 per square meter) based on the property\u2019s 23,979 square feet (2,227.7 square meters) of freehold land area, as reported by The Business Times<\/em>.<\/p>\n

It was also nearly double the S$38.8 million that Luo paid for the property in 2011. The transaction was contracted last December and completed in February.<\/p>\n

The property, located on Tanglin Hill in the Ridley Park Good Class Bungalow Area, features a two-story house and a swimming pool.<\/p>\n

Luo and her husband are the co-founders of Shanda Group, which started out in 1999 as online gaming company Shanda Interactive Entertainment.<\/p>\n

The firm grew into one of China\u2019s largest internet companies and went public in the early 2000s, propelling Chen into the ranks of China\u2019s richest.<\/p>\n

But a series of panic attacks prompted him to resign as CEO in 2012, stepping away from the pressures of running a listed company before later taking the business private, according to Bloomberg<\/em>.<\/p>\n

Shanda was then repositioned as a multinational investment firm with offices in markets including the U.S., Hong Kong and Singapore.<\/p>\n

Luo and her husband moved from Shanghai to Singapore in 2009 before relocating to California in late 2017. Forbes<\/em> estimates Chen\u2019s net worth at US$1.3 billion as of June 1.<\/p>\n\n\n\n\n
\"Chrissy<\/td>\n<\/tr>\n
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Chrissy Luo (L) and Chen Tianqiao, co-founders of Shanda Group. Photo from Tianqiao and Chrissy Chen Institute’s website<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Bungalows located in the 39 good class bungalow areas across Singapore are the city-state\u2019s most coveted form of landed housing. They are subject to stringent planning rules, including a minimum land size of 1,400 square meters and a height limit of two stories, according to the Urban Redevelopment Authority.<\/p>\n

In the first quarter of this year, trading activity in the segment slowed compared with the preceding quarter, though it remained well above levels seen a year earlier, EdgeProp Singapore<\/em> reported, citing a report on the city-state’s luxury residential market by real estate agency Huttons.<\/p>\n

Good class bungalow transactions<\/a> totaled S$183.6 million during the quarter, down 63.3% from previous quarter but up 76.9% from a low base a year earlier.<\/p>\n

The largest transaction in the quarter involved a Nassim Road property that changed hands for S$92 million, or S$3,846 per square foot.<\/p>\n<\/div>\n