Vanuatu citizen pays S$32m for TwentyOne Angullia Park penthouse

Vanuatu citizen pays S$32m for TwentyOne Angullia Park penthouse

Price is 25% below what Jho Low paid for project's other penthouse in 2013; deal is latest purchase of plush condo units by parties from China

Tue, Oct 22, 2019

KALPANA RASHIWALA


A VANUATU citizen, Xie Zhijing, is paying S$32 million or S$4,146 per square foot for the remaining penthouse at the freehold TwentyOne Angullia Park.

This is 25 per cent lower than the S$42.9 million or S$5,560 psf that fugitive Malaysian financier Low Taek Jho - more commonly known as Jho Low - shelled out for the development's other penthouse in 2013.

Both penthouses have identical sizes (a strata area of 7,718 sq ft inclusive of 624 sq ft of strata void area) and layout; they are in two different stacks which are mirror images.

The penthouses occupy the top two levels and rooftop of the 36-storey project, which is just a stone's throw from the future Orchard Station on the Thomson-East Coast Line.

Each penthouse comes with a private roof-top swimming pool, two balconies, an oversized dining room and four bedrooms. The 54-unit project received Temporary Occupation Permit in 2014.

Both penthouses were sold by the project's developer, Angullia Development Pte Ltd.

The penthouse that Low bought is one of two units he picked up in the project back in June 2013; the other is a 2,260 sq ft three-bedroom apartment just below it, for which he paid S$11.5 million or S$5,099 psf.

Any dealings in Low's two units is prohibited under caveats lodged by the Registrar of Titles at the Singapore Land Authority in February 2016.

Market watchers noted that parties from China have been snapping up high-end condo units in Singapore in the past few months. Among recent deals are two adjoining units adding up to 5,662 sq ft at The Ritz-Carlton Residences, Singapore, Cairnhill, bought by a Chinese citizen for S$20 million, translating to S$3,532 psf. The apartment is being sold by the project's developer.

Also changing hands is a 6,232 sq ft five-bedroom apartment at the Signature Tower of The Marq on Paterson Hill. Wang Dehai, a citizen of Cyprus, is paying S$23 million, or S$3,690 psf, for the unit, which is around the 10th floor of the 24-storey development .

The project's Signature Tower has an interlocking design for each of the apartments so that it feels like a penthouse even for units on lower floors - with double-volume ceiling height in the living and dining area and a private pool cantilevered outside of the building in each apartment.

Property agency SRI was involved with the two deals at The Marq, and Ritz-Carlton Residences in Cairnhill.

Separately, two other apartments at The Marq, also in the Signature Tower, are being sold to a European/American couple understood to be based in Hongkong. They are paying S$25 million (S$4,011 psf) and S$25.5 million (S$4,092 psf) for the apartments, which are on the higher levels of the block.

All three units in the block are being sold by earlier buyers.