Mining tycoon selling Swettenham Rd GCB

INDONESIAN mining tycoon Low Tuck Kwong is said to be the party selling a Good Class Bungalow (GCB) along Swettenham Road for S$23.52 million.

This translates into S$1,543 per square foot based on the freehold land area of 15,239.53 sq ft.

Mr Low and his family are said to reside in the two-storey freehold bungalow, which has four spacious bedrooms and a swimming pool. RealStar Premier brokered the sale. Analysts noted that the transacted price is lower than the S$30 million the seller had been asking as recently as nine months ago.