S'porean daughter of M'sia bank titan buys Tanglin GCB for record-breaking S$94 million

The Singaporean daughter of a Malaysian banking tycoon has reportedly bought a Good Class Bungalow (GCB) in the Tanglin Hill area for S$93.9 million.

Public bank

Bloomberg reports that Diona Teh Li Shian is one of four daughters of Teh Hong Piow, the founder of Public Bank Bhd., a Malaysian financial institution.

According to Bloomberg, the bank is Malaysia’s second-largest lender, and the Teh family still controls a fifth of the bank’s shares.

Diona Teh is said to be the public face of the Teh family since her father’s death in 2022.

The GCB, one of only about 2,800 available in Singapore, is located near Orchard Road.

GCB ownership is largely restricted to Singaporean citizens, and Bloomberg reports that Teh is a Singaporean citizen.

Record breaker

The plot of land is about 1,409 square meters or 15,150 square feet.

This means that the property was sold for a record-setting S$6,197 per square foot, beating the previous record of about S$4,500 set in 2023 as part of a sale of three Nassim Road GCBs.

The plot was developed by Meir Homes and was acquired for S$30 million in 2022.

The mansion is currently under construction.

Bloomberg reports that the two-story mansion will have a total floor area of 2,756 square meters, including a basement, a 25-meter pool with a tanning deck, a walk-in wine chiller, and an 18-seater theatre.

An earlier report by The Business Times said the mansion will have six bedrooms and space for over a dozen cars.

The interior will feature Japanese Oak and other materials imported from Europe.

Top image via Google Maps & Meir Homes