SINGAPORE PROPERTY
Italian aristocrat sells pair of Neil Road shophouses for S$40.88 million
A Singapore vehicle linked to Luca Padulli paid S$17.5 million in 2011 for the freehold property, which was extensively restored
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[SINGAPORE] An entity linked to Italian aristocrat, financier, property investor and art collector Luca Padulli has sold a pair of freehold shophouses in Neil Road for S$40.88 million.
The amalgamated property, at 136 and 138 Neil Road, is home to the Goethe-Institut in Singapore, a cultural institution of the Federal Republic of Germany that promotes the study of the German language abroad and encourages international cultural exchanges.
The new owner of the property is understood to be a wholly owned subsidiary of Aw & Sons Capital.
