For S$53 million, the son of tycoon couple Gordon and Celine Tang purchases Second Av

For S$53 million, the son of tycoon couple Gordon and Celine Tang purchases Second Avenue GCB

The chairman of immersive entertainment company Neon, Ron Tan, is selling the property for S$2,652 per square foot on land area.

September 4, 2025

CONDOsingapore.com

Tang Jialin purchased the Good Class Bungalow (GCB) on Second Avenue from Ron Tan, the executive chairman and group chief executive officer of immersive entertainment company Neon, formerly known as Cityneon, for S$53 million.

The CEO of SingHaiyi Group and Tang Organisation is Tang, who is in his late 20s. Gordon and Celine Tang, his parents, are the sole owners of both businesses.

On the roughly 19,988 square feet of freehold land, Tang Jialin paid a price of almost S$2,652 per square foot (psf). The deal was just finished.

The two-story bungalow with a basement, which is situated on an elevated site, was constructed approximately twelve years ago. Its total built-up area is approximately 12,200 square feet. The bungalow features a wine cellar, a swimming pool, a lift, five bedrooms, and a few other rooms.

In 2023, Tan purchased the property for S$38 million. The First/Third Avenue GCB Area (GCBA) is where it is located.

In Singapore, bungalows in the 39 GCBAs are the most prestigious type of landed housing.

Generally speaking, in order to purchase a landed property in a GCBA, one must be a citizen of Singapore.

In order to maintain their exclusivity and low-rise character, bungalows in these areas are subject to stringent planning requirements.

Purchase made in Dalvey Estate

In the meantime, indications suggest that Wan Yaojun will purchase the 21,882 square foot GCB plot in Dalvey Estate that belonged to the family of former president Ong Teng Cheong. In his early twenties, the Singaporean owns 49% of Hoovasun, which teamed up with Forsea Residence and Qingjian Realty to win the 99-year leasehold Media Circle (Parcel A) in a state tender that ended in March. The property has a residential zone with a first-story commercial zone.

Singapore-based Hoovasun was founded in December 2022, and its main line of business is real estate development.

The price that was paid for the Dalvey Estate property, according to market observers, is marginally higher than the S$60 million (roughly S$2,742 per square foot on land area) that Cushman & Wakefield had suggested when it started an expression of interest exercise for the plot in January.

According to a title search on the property, Ong Tze Guan, the older son of Singapore's first elected president, and his former sister-in-law Wang Yi Yi own two adjacent freehold land lots.

A two-story bungalow with a swimming pool is located on the other piece of land; it has been conserved.

An ancillary building with a driveway and parking lot is located on the property that is being transferred; this area is not designated as conservation. According to a January statement from Cushman & Wakefield, the site, which is situated on elevated grounds, is appropriate for developers who might wish to turn it into a GCB for sale or for buyers who wish to construct a multigenerational home.

Chee Hoon Avenue transaction

Last month, a S$55 million option to buy a newly constructed home on Chee Hoon Avenue was exercised.

The cost comes to S$3,955 per square foot on 13,906 square feet of freehold land. Tan Koo Chuan, who developed the property, is selling the two-story home with a basement, attic, and swimming pool. He is Yi Kai Development's founder.

Joan Road bungalow's new owner

Last month saw the completion of the S$47 million sale of a two-story, six-bedroom bungalow in the Caldecott Hill Estate GCBA on Joan Road. The cost comes to S$1,594 per square foot on 29,483 square feet of freehold land.

Chua Poh Seng, one of the two shareholders of Singa-Dynamics (SEA), which, according to its website, specialises in three main industries: ship repair and engineering, building and construction, and personal protective equipment distribution, is the new owner.

The three sons of the late Cecil Vivian Richard Wong, a well-known accountant who was an independent director on the boards of several businesses, including CK Tang, Pan-United Corp, and Venture Corp, sold the Joan Road bungalow. In addition, he served as Bukit Sembawang Estates' chairman.