The Business Times
business-time-50
SUBSCRIBERS

Six-storey Boat Quay shophouse reaps S$16 million profit for seller

The sale, which has resulted in a nice return for the seller, comes amid a slowdown in shophouse deals

google-preferred-sourceAdd BT as a preferred source
Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, Mar 22, 2023 · 05:51 AM
    • The six-storey property at 52 Boat Quay is the tallest conservation shophouse along the Singapore River.
    • The six-storey property at 52 Boat Quay is the tallest conservation shophouse along the Singapore River. PHOTO: SAVILLS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    WAH Loon Engineering founder Alan Chong is understood to have sold a landmark six-storey shophouse in Boat Quay for S$37 million, making a nice gain over the S$21.35 million he paid for the 999-year leasehold property in 2018.

    The new owner of 52 Boat Quay is an indirect wholly-owned subsidiary of Tai Tak Estates, incorporated in Singapore in 1954.

    Tai Tak, set up by the late banking tycoon Ho Sim Guan, invests in a number of businesses including plantations, listed and private equities, and property. Tai Tak owns other shophouses in Boat Quay and South Bridge Road areas.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Commercial & IndustrialshophousesSingapore propertyInterest ratesSpotlight

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Sales have rebounded in March after the year-end lull and seasonal Chinese New Year pullback.

    Near sell-out launches in March boost developer sales to 1,300 units after four slow months

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More