Group led by Daniel Teo buys Mount Rosie bungalow for S$43.8m

Singapore

A GROUP of investors led by veteran property developer Daniel Teo of Hong How Group is buying an old bungalow at 21 Mount Rosie Road, near Barker Road, for S$43.8 million with a view to redeveloping it into several landed homes for sale.

The Business Times understands that the property is being sold by Teo Choon Seng and Teo Tiou Seng, who are sons of Pacific International Lines' (PIL) founding chairman, the late Teo Woon Tiong (alias Chang Yun Chung or YC Chang).