Editor's note: This article has been amended to reflect that the youngest child of UOB chief executive Wee Ee Cheong is Grant Wee.

The youngest child of UOB chief executive Wee Ee Cheong is buying a mansion priced at S$39.5 million.

Grant Wee hails from the Singapore’s richest banking dynasty.

Bloomberg reported that the transaction has garnered interest as it comes in the wake of the death of its patriarch Wee Cho Yaw in February, with curiosity surrounding where the Wee family’s US$10.6 billion (S$14.2 billion) fortune will be dispersed.

Grant Wee’s father became the richest of the late Wee’s children, with a net worth of US$4.6 billion (S$6.2 billion), according to Bloomberg estimates.

The good class bungalow, which is more than 19,500 sq ft, is in Ford Avenue, off Holland Road, Bloomberg reported, after viewing the property filings lodged at end-March.

The house is co-owned by Choo Chiau Beng, who was Keppel CEO and Singapore’s non-resident ambassador in Brazil.

He bought the house in 2007.

Grant Wee, a former consultant at Boston Consulting Group, now runs a wellness club in Singapore.

Just like Wee Ee Cheong’s two other sons, Grant Wee is not actively involved in UOB’s banking business.

Weak sales of high-end properties in 2023

The good class bungalow market transactions in 2023 were the lowest since 1996 when data became available, according to a recent estimate by CBRE Group, Bloomberg also reported.

There are about 2,800 such coveted high-end properties in Singapore.

The March transaction price is more than double that of a slightly larger mansion in the area sold for S$17 million in 2019.

Top photo via Google Maps