Shanda co-founder sells Tanglin Hill bungalow for S$76 million
The price is nearly double the S$38.8 million Chrissy Luo paid for the property in 2011
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[SINGAPORE] A freehold bungalow in Tanglin Hill has been sold for S$76 million, or about S$3,169 per square foot (psf) based on the freehold land area of 23,979 square feet (sq ft).
Located within the Ridley Park Good Class Bungalow (GCB) Area, the two-storey house with a swimming pool was sold by Chrissy Luo, who paid S$38.8 million for the property in 2011. The property has been refurbished over the years.
Luo, also known as Luo Qian Qian, is the co-founder of Shanda Group.
In 1999, Luo and her husband, Chen Tianqiao, founded Shanda Interactive Entertainment. It listed on Nasdaq in 2004 and expanded into a big-time online entertainment developer and publisher in China.
In 2012, Chen and his family took the company private and repositioned it as a global investment group. Besides the United States, the group has offices in Hong Kong, Shanghai and Singapore, among other locations.
The couple’s active philanthropy endeavours include the Tianqiao and Chrissy Chen Institute, which supports human brain research.
Chen’s work in recent months has focused on “discoverative” intelligence and structured temporal intelligence, with the aim to create artificial intelligence systems that act as collaborative partners in the scientific process. This is according to a blog post on MiroMind, an AI startup he founded last year.
In 2009, the couple moved from Shanghai to Singapore, and relocated to California in late 2017, based on media reports.
Luo’s sale of the Tanglin Hill bungalow was contracted in December 2025 and completed in February.
The buyer of the Tanglin Hill bungalow, a naturalised Singapore citizen, is listed as a trustee holding a Sentosa Cove bungalow that was recently transferred by Chinese hospitality chain H World Group founder and executive chairman Ji Qi.
The beneficiary of the trust is a child who is a minor.
H World Group operates more than 13,000 hotels globally under various brands (including Hi Inn and JI Hotel), focusing mainly on the economy and mid-scale segments.
A celebrated serial entrepreneur, Ji also co-founded Trip.com, one of China’s biggest online travel service providers.
One generally has to be a Singapore citizen to be allowed to acquire a landed property in a GCB Area.
BT could not ascertain who brokered the Tanglin Hill bungalow deal.
Fair price to seller
Realstar Premier Group managing director Julian Yip described the S$3,169 psf as a fair price to the seller, given the relatively large plot size and assuming the house is in move-in condition.
“It is not surprising the buyer is prepared to pay this land rate because Tanglin Hill is quite a well-sought-after GCB locale. And the site area of close to 24,000 sq ft appeals to some buyers.”
Bungalows in the 39 gazetted GCB Areas are the most prestigious form of landed housing in Singapore, with strict planning conditions to preserve their exclusivity and low-rise character.
A minimum plot size of 1,400 square metres, or 15,070 sq ft, is specified as the planning norm for newly created bungalows in GCB Areas.
In terms of psf on land area, the record price in a GCB location is S$6,197. This was for a Tanglin Hill property transacted in 2024 while it was being built on a 15,150 sq ft site.
The house, with an absolute price quantum of S$93.9 million, was delivered on a completed basis and furnished to the buyer’s requirements.
Had the nearby bungalow sold by Luo been of a similar site area, “it would have fetched about S$3,500 psf or even higher, considering it is not a newly built property”, said Yip.
BT understands that the Chen family continues to own a freehold bungalow in Cable Road acquired in 2016 for S$23 million, or S$1,518 psf on the site area of 15,148 sq ft.
Luo bought the property in trust; the beneficiary is the couple’s daughter, who at the time was a minor.
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