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Charles & Keith family buys another GCB; total of 15 sold from Jan-May

The first five months of this year saw 15 deals in GCB Areas totalling S$298.45 million, higher than 2016 figures

Kalpana Rashiwala

Published Mon, Jun 5, 2017 · 09:50 PM

Singapore property

Singapore

THE family of the well-known handbag and shoemaker Charles & Keith has bought another bungalow in a Good Class Bungalow (GCB) Area.

Low Lay Eng, a shareholder of Charles & Keith and believed to be the mother of the eponymous group's founders, paid S$20 million for a bungalow along Chatsworth Road. The price works out to S$1,503 per square foot based on the freehold land area of over 13,300 sq ft.

Early last year, Charles and Keith as well as younger brother Kelvin teamed up to buy a bungalow in Mount Echo Park for S$22.25 million or S$1,322 psf on land area of 16,826 sq ft.

Other recent deals in GCB Areas include a property in Gentle Road in District 11 that went for S$22.5 million or S$1,211 psf on land area of over …