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Former Midas chairman's bungalow fetches S$30.8m in mortgagee sale

The buyer of the freehold Cluny Road property is the family of Philip Ng of Far East Organization; the Ngs own the next-door property, which they bought last year

Kalpana Rashiwala

Published Sun, Dec 2, 2018 · 09:50 PM

Singapore property

Singapore

SOME notable bungalow deals have taken place recently in Good Class Bungalow (GCB) Areas as well as in the Sentosa Cove waterfront housing locale.

In a deal involving a mortgagee sale, a bungalow along Cluny Road owned by Chen Wei Ping, the former executive chairman of embattled Midas Holdings, is being bought by the family of Philip Ng, chief executive of property group Far East Organization, for S$30.8 million.