What can a US$100 mil Indian wedding buy you in Singapore?
By EdgeProp Singapore
/ EdgeProp Singapore |
On December 12 (12.12), Asia’s richest man – oil-and-telecom magnate Mukesh Ambani – will give away his daughter Isha to billionaire Ajay Piramal’s son, Anand.
While there has been a wide range of figures as to how much the week-long extravaganza will cost, Bloomberg reported that sources familiar with the planning estimated the expense to be at about US$100 million (S$137 million).
Isha Ambani is the ultra-wealthy bride whose wedding includes a performance by Beyoncé. Source: Instagram
Which Singapore properties can you buy at the cost of what is estimated to be the world’s most expensive wedding? Below are some of our top picks!
1) A super-penthouse at Wallich Residence
A super penthouse at Wallich Residence is listed at a jaw-dropping S$108 million (Credit: Guocoland)
A super penthouse at Wallich Residence spanning 21,108 sq ft is currently listed on EdgeProp.sg at a jaw-dropping S$108 million! Wallich Residence contains just 181 luxury residences and spans the 39th to 64th floors of Tanjong Pagar Centre.
The residences sit on top of the 38-storey Guoco Tower, which contains Grade-A office space. Tanjong Pagar Centre is an integrated development by GuocoLand and includes retail space as well as the luxury Sofitel Singapore hotel. The entire development is linked underground to the Tanjong Pagar MRT station.
2) Almost 100 units of new mass market condos
Three-bedroom apartments at Riverfront Residences (shown) are priced from $1.07 million, while premium three-bedroom units are priced from $1.26 million
Based on new sale caveats from January to mid-December, the median price for 3-bedroom condo units located in the Outside Central Region (OCR) is at S$1.44 million.
Going by this figure, a sum of S$137 million would be able to fetch roughly 95 units of new mass market condos.
3) Up to three Good Class Bungalows
A GCB at Dalvey Road (shown), formerly held by the estate of Lim Kim San was sold for S$93.9 million
In what is believed to be the most expensive Good Class Bungalow (GCB) transaction ever, a two-storey bungalow at Nassim Road was sold for S$105.3 million earlier this year. Meanwhile, a GCB at Dalvey Road, formerly held by the estate of Lim Kim San was sold for S$93.9 million.
There are also GCBs that transacted at between the S$30 million to S$40 million threshold, and with a sum of S$137 million, you would be able to afford three of such GCB units. However, one should take note that non-Singaporeans are generally not allowed to purchase such landed properties.
4) En bloc sites
The 20-unit How Sun Park, which was sold for $81.1 million in November 2017
Why stop at residential units when you can buy entire projects? With S$137 million, you have the option of participating in collective sale purchases.
Of course, some sites are more expensive than others, such as the 1,006-unit Mandarin Gardens, whose reserve price has been raised to $2.788 billion. However, there are smaller collective sale sites that fall within the $100 million range, such as the 20-unit How Sun Park, which was sold for $81.1 million in November 2017.
5) A handful of conservation shophouses
Price escalation in the conservation shophouse segment has been evident in recent years, especially at Amoy Street in the CBD
Interest in shophouses has certainly increased, and so have prices in recent years.
Current listings on EdgeProp.sg indicate that the asking prices of shophouse units can range from $5 million to $26 million, depending on their size and locality. For instance, a 9,226 sq ft unit at Pagoda Street is currently listed at $26 million, while a 1,722 sq ft conversation shophouse at the Tanjong Pagar Conservation Area is listed at $15 million.
Suffice to say that a sky-high budget of S$137 million will certainly be able to buy you more than a handful of these properties.
What would you buy with S$137 million? Let us know in the comments’ section below!
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