In Singapore, Zhang Ying, the wife of Alibaba Group co-founder Jack Ma, recently bought three adjacent shophouses on Duxton Road in the heart of Singapore for a huge sum of S$45 million to S$50 million. The three shophouses have a total site area of 3,239 sq ft and a total floor area of 10,000 sq ft. Each shophouse is built with three storeys plus loft space.
According to market sources, the Jack Ma family may use the shophouses as private clubhouses to entertain friends and colleagues. "They may also end up renting out the shophouse to further utilise the potential of this prime location. ”
According to documents seen by Bloomberg, Teo Ying has become a director of Duxton 1 Holdings PTE, 72 Duxton PTE and Duxton Victory PTE on January 5, three companies that own shophouses on Duxton Road and become Singapore citizens.
The deal has sparked widespread attention, sparking speculation about the Jack Ma family's real estate layout and investment strategy in Singapore. This move by Teo Ying is also seen as an expression of confidence in Singapore's real estate market, further highlighting the investment potential and attractiveness of the region.
The shophouse is located in the heart of Singapore, and its prime location and luxurious architectural design make it one of the high-profile assets in Singapore's real estate market.
The details of the transaction and the next steps will continue to be closely monitored, and we will keep an eye on it and update the report as it becomes available.