Chrissy Luo, founder of Chinese gaming & investment giant Shanda, sells Tanglin Hill GCB for S$76 million

Chrissy Luo, the co-founder of the Shanda Group, a gaming and media investment firm from China, has sold her Tanglin Hill Good Class Bungalow (GCB) for S$76 million.

According to The Business Times (BT), the freehold land area is 23,979 square feet, which equates to about S$3,169 per square foot.

The house was originally purchased by Luo, also known as Luo Qian Qian, for S$38.8 million in 2011.

Luo and her husband, Chen Tianqiao, founded Shanda Interactive Entertainment in Shanghai in 1999.

The couple moved from Shanghai to Singapore in 2009, before relocating to California in late 2017, reported BT.

Two-storey house with swimming pool

The two-storey house, which has a swimming pool, is located in the Ridley Park GCB area.

According to BT, it has been refurbished over the years.

In December 2025, the sale of the Tanglin Hill GCB was contracted, and it was completed in February.

BT noted that the Chen-Luo family still owns a Cable Road freehold bungalow, which they acquired in 2016 for S$23 million at S$1,518 per square foot for an area size of 15,148 square feet.

There are 39 gazetted GCB areas, and a minimum plot size of 1,400 square metres or 15,070 square feet is specified as the planning norm for newly created bungalows in those areas.

GCB buyer

BT reported that the buyer is a naturalised Singapore citizen listed as a trustee, holding a Sentosa Cove bungalow.

The Sentosa Cove property was recently transferred by the H World Group's founder and executive chairman, Ji Qi, with the beneficiary of the trust being a minor.

H World Group is a Chinese hospitality group that runs more than 13,000 hotels and resorts, including the Ji Hotel and Orange Hotel chains.

Ji also founded Trip.com, one of China's biggest travel service providers.

BT reported that they could not be certain who brokered the Tanglin Hill deal, but noted that buyers generally have to be Singapore citizens to acquire a landed property in a GCB area.

Shanda Group

According to Shanda's website, the firm started with online games before building an Internet cafe empire.

Their gaming division is known for games such as Legend of Mir 2 and The World of Legend, both of which are Massively Multiplayer Online Role-Playing Games (MMORPGs).

The company was the first Chinese online games company listed on the Nasdaq in 2004.

Shortly after the U.S. IPO, Shanda became the largest internet company in China by market capitalisation.

In February 2012, the founders took the company private in the then-largest take-private transaction of a U.S.-listed Chinese company.

The founders also repositioned the firm as a global investment group.

In July that same year, Shanda's global headquarters relocated to Singapore.

The group also has offices in the U.S., Hong Kong and Shanghai.