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Marbolo Tan's $50mil GCB sold to new Sinkie ATB

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Former minister Mah Bow Tan sells Good Class Bungalow at Holland Rise for $50 mil​

By Cecilia Chow
/ EdgeProp Singapore |
March 4, 2024 10:24 PM SGT

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Mah Bow Tan's GCB at Holland Rise fetched $50 million in August (Photo: Samuel Isaac Chua/EdgeProp Singapore)
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Mah Bow Tan, former Minister for National Development who retired from politics in 2015, sold his Good Class Bungalow (GCB) at Holland Rise last August. The 28,376 sq ft freehold site is on a quiet street at Holland Rise with just a handful of GCBs. It is just off Holland Road in prime District 10. According to a property title search, Mah purchased the property in 1992.

In the latest transaction, Mah's GCB on Holland Rise was sold to Wang Qianqian, a Chinese-turned-Singapore citizen, who purchased it for $50 million ($1,762 psf). Based on the transfer document, the contract was signed in April 2023, with the deal completed in August last year.

Wang's address in the property title is a GCB at Leedon Park, also in prime District 10. A further property title search shows that the GCB at Leedon Park sits on a freehold site of 21,584 sq ft and was purchased by her brother, Wang Tianlong, for $37.3 million ($1,728 psf) in January 2021. The Wang siblings are said to be in their early-30s.

Read also: William Lim-designed GCB in Holland Park for sale at $56.8 mil







64a0fa-EMPTY-PLOT-AT-HOLLAND-RISE-C-W.jpg

The 52,992 sq ft, freehold vacant plot at Holland Rise is large enough to be sub-divided into two or three smaller GCBs. The site was last on the market for sale at $106 million ($2,000 psf) in Nov 2022 (Photo: Cushman & Wakefield)

GCB values in the Holland Rise neighbourhood in prime District 10 have appreciated significantly in recent years. In January 2021, a 52,992 sq ft, freehold empty GCB plot at Holland Rise was put up for sale by Cushman & Wakefield by expression of interest at a guide price of $68 million ($1,283 psf).

Less than two years later, in November 2022, that same vacant GCB plot on Holland Rise was on the market for sale at 55.88% higher - $106 million ($2,000 psf), with Knight Frank as the marketing agent. The GCB plot is large enough to be subdivided into two or three smaller GCBs and is accessible via Holland Rise and East Sussex Lane.

According to caveats lodged, the latest transaction in the neighbourhood of East Sussex Lane and Holland Rise was for a bungalow house on Holland Road: The house was built in 1959 and sits on a freehold site of 6,768 sq ft. It changed hands for $10 million ($1,596 psf) in November 2023.

Holland Rise may be an exclusive area, but it's close to Holland Village, the new One Holland Village Mall, Holland Village MRT Station, and a seven-minute drive to Dempsey Hill.
 

Former minister Mah Bow Tan sells Good Class Bungalow at Holland Rise for $50 mil​

By Cecilia Chow
/ EdgeProp Singapore |
March 4, 2024 10:24 PM SGT

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Mah Bow Tan's GCB at Holland Rise fetched $50 million in August (Photo: Samuel Isaac Chua/EdgeProp Singapore)
img-speaker.png
Join our Telegram channel and follow our Facebook for the latest update.

Mah Bow Tan, former Minister for National Development who retired from politics in 2015, sold his Good Class Bungalow (GCB) at Holland Rise last August. The 28,376 sq ft freehold site is on a quiet street at Holland Rise with just a handful of GCBs. It is just off Holland Road in prime District 10. According to a property title search, Mah purchased the property in 1992.

In the latest transaction, Mah's GCB on Holland Rise was sold to Wang Qianqian, a Chinese-turned-Singapore citizen, who purchased it for $50 million ($1,762 psf). Based on the transfer document, the contract was signed in April 2023, with the deal completed in August last year.

Wang's address in the property title is a GCB at Leedon Park, also in prime District 10. A further property title search shows that the GCB at Leedon Park sits on a freehold site of 21,584 sq ft and was purchased by her brother, Wang Tianlong, for $37.3 million ($1,728 psf) in January 2021. The Wang siblings are said to be in their early-30s.

Read also: William Lim-designed GCB in Holland Park for sale at $56.8 mil







64a0fa-EMPTY-PLOT-AT-HOLLAND-RISE-C-W.jpg

The 52,992 sq ft, freehold vacant plot at Holland Rise is large enough to be sub-divided into two or three smaller GCBs. The site was last on the market for sale at $106 million ($2,000 psf) in Nov 2022 (Photo: Cushman & Wakefield)

GCB values in the Holland Rise neighbourhood in prime District 10 have appreciated significantly in recent years. In January 2021, a 52,992 sq ft, freehold empty GCB plot at Holland Rise was put up for sale by Cushman & Wakefield by expression of interest at a guide price of $68 million ($1,283 psf).

Less than two years later, in November 2022, that same vacant GCB plot on Holland Rise was on the market for sale at 55.88% higher - $106 million ($2,000 psf), with Knight Frank as the marketing agent. The GCB plot is large enough to be subdivided into two or three smaller GCBs and is accessible via Holland Rise and East Sussex Lane.

According to caveats lodged, the latest transaction in the neighbourhood of East Sussex Lane and Holland Rise was for a bungalow house on Holland Road: The house was built in 1959 and sits on a freehold site of 6,768 sq ft. It changed hands for $10 million ($1,596 psf) in November 2023.

Holland Rise may be an exclusive area, but it's close to Holland Village, the new One Holland Village Mall, Holland Village MRT Station, and a seven-minute drive to Dempsey Hill.
Does Anyone remember, what price did marlboro buy this Bungalow for, in the 1990's ?

Capital Gain is Tax-Free in SG ?

Will he use the proceeds to move to his Properties in Johor, or in Perth ?

Isn't he responsible, together with Woody, with the "Asset Enhancement Policy" that benefitted the Singkies in the late 90's till recently, making many Millionaires, but as a result, the Youngsters struggle more to buy properties, and Everybody here is paying higher prices for everything, to feed the land Lords ?
 
Altogether now!!! HUAT AH!!!
 
No other country in the world has politicians that carve out million-dollar lifestyles for themselves AFTER leaving office.

Politics in Sinkeepoo is not a public service endeavour but a profit-making career move. Another uniquely Sinkeepoo trait. :o-o:
 
Desperate for money or preparing to run road? :sneaky:
 
Does Anyone remember, what price did marlboro buy this Bungalow for, in the 1990's ?
Conflict of interest at the height of property speculation in those years, were prevalent but silenced. It reminds us of Kong Hee. Where did all the money come from?
 
"Wang siblings are said to be in their early-30s"

Money laundering. And the tiongs are owning more and more of sinkie land. Majulah PAP!
 
"Wang siblings are said to be in their early-30s"

Money laundering. And the tiongs are owning more and more of sinkie land. Majulah PAP!
Musical chairs, they bought at peak, where to find other fools to buy over.
 
"Wang siblings are said to be in their early-30s"

Money laundering. And the tiongs are owning more and more of sinkie land. Majulah PAP!
I hope they convert it to the biggest whorehouse in that district.

Top notch Chicken, Ducks, half & half all in.
 
Musical chairs, they bought at peak, where to find other fools to buy over.
Don't think they care, because they are the CCP's proxy. The commies have been invading our island, from years back. And sinkies gleefully sell them our property. So, no military might needed.
 
This CBKia is the main culprit who introduce pegging of HDB price with ranjiao land costs to market rate but with zero strata title given to HDB owners so when tio enbloc even have to fork out money whereas condo owners all huat to the moon when tio enbloc as theirs all have strata titles.

Hence all HDB owners become mere long term lessees after being arse-farked big time by this guy, LOL.

This farker's ministerial salaries and all capital gains from property sales should be clawed back and made a bankrupt.
 
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