Mutaffa Boss Slaps Greedy Leegime Silly

[Bigfuck]

http://www.asiaone.com/A1Home/A1Home.html

"Mr Mustaq also said he does not believe in spending money on property investments, a sector he sees as purely "speculative".
He explained: "I never considered buying land and building an apartment as an investment.
"I only did it to put a roof over our heads so we can live together as a family."
Mr Mustaq Ahmad, 62, the managing director of the 24-hour shopping complex, has built an $11 million, 10-storey apartment occupied exclusively by his extended family."

27,000 sqft with swimming pool and gym works out to S$407/sqft. So now you know how much you have been cheated.

"The sleek and modern looking apartment certainly looks like the kind of home owned by a man Forbes Asia ranked as the 37th richest in Singapore in 2011 with a net worth estimated at US$240 million ($300 million)"

Aye, luxury grade hor. So you know you are paying sai for HDB and other properties developed out there.
You know now how you have been cheated and a Forbes multimillionaire is telling you.

 

[Narong Wongwan]

HDB cannot sell to peasants at this price or it will be raiding the reserves..........how many times you want MBT to tell you that?!

 

[CPT (NS) BRANDON]

That's why he is a multimillionaire -- he knows how to think for himself and does not listen to the bullshit propaganda from the media, nor does he follow trends like the 99% of lemmings out there who hold on to the retarded belief that their $600k HDB flat (leased for 99 years) is an "asset"

 

[lovesamleong]

Mr Mustaq Ahmad, 62, the managing director of the 24-hour shopping complex, has built an $11 million, 10-storey apartment occupied exclusively by his extended family."

There are nine units of three- to five room apartments which Mr Mustaq, his wife Ishret Jahan, their four children and six grandchildren share.

9 units, that works out at $1.2 million each. Each unit should be larger than HDB flats, if you take 27,000sqft divide by 9, you get 3000 sqft, actual size depends if 3, 4 or 5 room minus the swimming pool and gym.

 

[lovesamleong]

By the way, the story is here - the original link don't link to the story:

http://news.asiaone.com/News/Latest+News/Plush/Story/A1Story20130617-430323.html

Mustafa boss' luxury home is 10 storeys tall

Wednesday, Jun 19, 2013

SINGAPORE - Mustafa Centre has almost everything you can find under one roof.That philosophy seems to apply to the boss and his family, too.

Not for the family ofMr Mustaq Ahmad, 62, the managing director of the 24-hour shopping complex, has built an $11 million, 10-storey apartment occupied exclusively by his extended family. And it comes with a swimming pool and gymnasium, reported Malay-language daily Berita Harian.

Recently, Mr Mustaq, 62, checked There are nine units of three- to five room apartments which Mr Mustaq, his wife Ishret Jahan, their four children and six grandchildren share.

The family moved into the modern building earlier this year.

The sleek and modern looking apartment certainly looks like the kind of home owned by a man Forbes Asia ranked as the 37th richest in Singapore in 2011 with a net worth estimated at US$240 million ($300 million).

Mr Mustaq is not the only businessman to own an apartment in the area. Nearby is a 12-storey apartment building owned by businessman O. K. Mohamed Haniffa, who owns textile company Haniffa on Dunlop Street.

Modest

Mr Mustaq - who occupies an apartment on the ninth floor of the building - was, however, modest about his new accommodations. He told Berita Harian: "It is only a home. The design may be a little different, but what is important is that the building is strong and safe."

As he explained, the decision to build the apartment was a practical one. Apart from housing his immediate family, the building is also close to his office and his iconic mall on Syed Alwi Road.

Mr Mustaq, who walks to his office every day, said: "A home is the most important necessity for any person.

"Big or small, owning your own home is better than renting, which could add to your financial pressure."

This is why he was in favour of building his own apartment from the ground up, he added.

Mr Mustaq, who arrived in Singapore from Uttar Pradesh in India at the age of five in 1956, said he bought the land between 1985 and 1990 for $6.5 million to build his two-storey bungalow.

The new 27,000 sq ft apartment building, which stands on a 10,000 sq ft plot of land, is now estimated to be worth $45 million, reported the Malay daily.

Mr Mustaq expects the price of his property to rise, but said: "This happened by chance, but we do not know what is going to happen in the future."

"If given the chance to build an apartment like this at the (current) property prices, I probably could not do it again."

Mr Mustaq also said he does not believe in spending money on property investments, a sector he sees as purely "speculative".

He explained: "I never considered buying land and building an apartment as an investment.

"I only did it to put a roof over our heads so we can live together as a family."

No time for property play

As for buying land for investment, Mr Mustaq said he has "no time" for such pursuits, preferring instead to focus all his energies on his business. This devotion to business started at an early age.

As a schoolboy, Mr Mustaq started out by helping his father and uncle sell garments at a makeshift stall that had been operating since 1965. Soon, he set up a garment store at Campbell Lane in 1971.

Two years later, he rented a space along Serangoon Road to sell more products and services.

Over the years, Mr Mustaq kept adding more space and products to his store, renting approximately 12,000 sq ft space in Serangoon Plaza in 1985.

Mustafa Centre is now 24,000 sq m of non-stop shopping with over half a million types of products.

The company has more than 1,900 employees.

 

[shittypore]

Why no guess wat Race? haha!

 

[lovesamleong]

Guess which one? Mutaffa Boss or Leegime Silly ?

 

[wendychan]

borrow thread, off topic :

one of the reasons why i wont be forced into a HDB you jealous sick bastards

 

[Bigfuck]

9 units, that works out at $1.2 million each. Each unit should be larger than HDB flats, if you take 27,000sqft divide by 9, you get 3000 sqft, actual size depends if 3, 4 or 5 room minus the swimming pool and gym.

Some crap of the same are in Sentosa goes for 7.8 million - you decide.

 

[Royalblood]

well, isn't a speculative environment the best time to make quick short term gains? esp when u have the capital to do so and the rewards can be pretty substantial when u have huge captial.....

this mustafa guy is so tunnel vision.

 

[boring]

not everyone like him can build his own kingdom, his statement seen lack of humble ...

 

[Narong Wongwan]

well, isn't a speculative environment the best time to make quick short term gains? esp when u have the capital to do so and the rewards can be pretty substantial when u have huge captial.....

this mustafa guy is so tunnel vision.

Nothing wrong.
Even Warren Buffett believes in investing in what he can understand. I guess this Mustafa guy does not like to speculate.