The price paid by the Singapore permanent resident works out to S$2,549 psf on the freehold land area
THE eldest child of Indonesia-born tycoon Sukanto Tanoto has picked up an old bungalow in Fernhill Road for S$21 million.
The price works out to S$2,549 per square foot on the freehold land area of 8,238 sq ft. The two-storey bungalow, which is near the Nassim Road Good Class Bungalow (GCB) Area, is within a zone designated for three-storey mixed-landed housing, which allows the development of terrace, semi-detached and bungalow housing.
Market observers expect the buyer, Andre Tanoto, to have a new bungalow built on the site for his own occupation.
Copyright SPH Media. All rights reserved.
