THE wife of Alibaba Group co-founder Jack Ma has bought three adjoining shophouses on Duxton Road in the Tanjong Pagar area.Zhang Ying, a Singapore citizen, paid about S$45 million to S$50 million for 70, 71 and 72 Duxton Road. According to The Business Times understands. The properties are on commercial-zoned sites with 99-year leasehold tenures starting from September 1988, leaving a balance term of about 63.5 years.Prices for street houses in Singapore have soared to a record high of 5,500 Singapore dollars (approximately US$4,000) per square foot, twice the price of Fifth Avenue in Manhattan, the world's most expensive shopping street.This is not the first time for Jack Ma invests in Singapore, In 2019, Ma reportedly planned to build a two-story bungalow at Victoria Park Close in Singa
Why The Super Rich Are Choosing Singapore?
Richest People in Asia Pouring Into Singapore. Chinese billionaire Jack Ma's Wife has acquired three so-called shophouses in Singapore. The prices for street houses in Singapore have soared to a record high of 5,500 Singapore dollars (approximately US$4,000) per square foot, twice the price of Fifth Avenue in Manhattan, the world's most expensive shopping street. ---------------------------------------------------------------------------- *Why are more and more wealthy people choosing Singapore? *What impact might this investment have on the local real estate market in Singapore?
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