Lim Kim San estate sells Dalvey Rd GCB site for S$93.9m

Singapore

THE estate of the late Lim Kim San has sold a freehold Good-Class Bungalow along Dalvey Road for S$93.9 million - or S$1,804 per square foot based on the 52,059 sq ft land area. The elevated site is large enough to be redeveloped into three bungalows.

The buyer is understood to be a Singaporean member of the Tsai family of Taiwan. The family controls Homax Equity, a vehicle that its founder, billionaire Tsai Tseng Yu, has used to make real-estate investments since he struck out on his own in 2010, after having sold his shares in Cathay Financial Holding to his brothers.