Fangiono family of First Resources racks up four Nassim bungalow buys this year
Even before it enters into a deal to buy a trio of GCBs from Cuscaden Peak, it has picked up a unit on the same street for S$88 million
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THE family that is said to be buying three Nassim Road bungalows from Cuscaden Peak Investments at a record land rate, had earlier this year picked up another bungalow on the same street for S$88 million.
The price for the earlier deal worked out to S$3,917 per square foot (psf) on land area, less than the S$4,500 psf it cost the Indonesian family to buy the trio of bungalows.
The Business Times (BT) understands that the earlier sale, to a Singaporean member of the Fangiono family behind Singapore-listed palm oil producer First Resources, took place in the first half of March 2023. The transaction was completed last month.
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