Daughter of Public Bank founder buys Tanglin Hill bungalow for a record S$93.9m

• Constructed and designed by Singaporean developer Meir Homes, the now-completed 2-storey GCB has an approximate floor area of 29,665 sq ft, with a 25m swimming pool and an 18-seat theatre, amongst other features.

SINGAPORE (March 26): Diona Teh Li Shian, daughter of Public Bank Bhd founder, the late Tan Sri Teh Hong Piow, has purchased a Good Class Bungalow (GCB) in Singapore’s Tanglin Hill neighbourhood, for a record-breaking price of S$93.9 million (RM311 million) or S$6,197 psf, according to Bloomberg News.

This transaction beats previous records set by a trio of GCBs located along Nassim Road, District 10, Singapore, which were sold in 2023 for S$69 million each or S$4,500 psf.

GCBs are extremely desirable property types in Singapore, where land is in short supply. Ownership of one of the 2,800 GCB units available is limited to Singaporean citizens. Diona is a citizen of the republic.

The property sits on a 15,150 sq ft plot of land, which was originally purchased for S$30 million some time in 2022. Constructed and designed by Singaporean developer Meir Homes, the now-completed 2-storey GCB has an approximate floor area of 29,665 sq ft, with a 25m swimming pool and an 18-seat theatre, amongst other features.

Diona’s Tanglin Hill bungalow, dubbed ‘The Kumiko House’ by Meir Homes, features an interior design style inspired by Japanese architect, Tadao Ando, utilising materials such as Japanese Oak.

The Teh family maintains control over a fifth of Public Bank Bhd’s shares, with Diona serving as the face of the family, since Hong Piow’s passing in 2022.

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