$36M RECORD BUNGALOW DEAL FIZZLES OUT
This year’s $36 million record deal for a bungalow in Sentosa Cove appears to have fallen through, with the buyer forfeiting the $500,000 deposit and more.
According to a report from Lianhe Zaobao, Mr. Shen Bin, the buyer of the 14,983 sq ft, 99-year leasehold site located on
Mr. Shen got cold feet after learning from the media that his offer of $2,403 psf for the site was well beyond market prices.
Experts said the psf price could be the highest for a bungalow in
Mr. Shen is said to be the son of Shen Wenrong, chairman of China-based steel manufacturing company Shagang Group. The older Mr. Shen was ranked by
Info courtesy- Propertyguru
