Singapore Property Walkabouts

If you recall Singapore’s original Monopoly game, Queen Astrid Park was one of 2 most expensive areas alongside Nassim Road, highlighting its ultra luxury status in the local property scene. It is one of the largest GCBAs and includes properties on Coronation Road West. It is located off Sixth Avenue and Holland Road and shares the boundary with Oei Tiong Ham Park GCBA.

Queen Astrid Park was named after Astrid of Sweden, who later became Queen of the Belgians as King Leopold III’s first wife before she died at 29 in a car accident. This GCBA was likely developed by the same Belgian bank who developed King Albert Park GCBA.

Even among the GCBAs, Queen Astrid Park is regarded as one of the more exclusive ones. I believe this is because of most GCBAs here are larger than the 15,069 sqft requirement, implying a much higher quantum for buyers. Despite being a larger GCBA, units also do not come up for sale often. More recently, 19A Queen Astrid Road, a newly completed 25,439 sqft house designed was rented out to a Chinese national for $200k a month in June 2022. That’s a whopping $2.4mil a year!

Latest Transactions:
18 Nov 2022 – $55.1mil – 27,696 sqft ($1,989 psf)
19 Jul 2021 – $86mil – 31,807 sqft ($2,704 psf – record psf)
14 May 2021 – $44.3mil – 31,352 sqft ($1,413 psf)
18 Jun 2019 – $23.6mil – 15,877 sqft ($1,487 psf)
12 Jun 2017 – $46mil – 29,709 sqft ($1,548 psf)
1 Jul 2016 – $44.5mil – 35,015 sqft ($1,271 psf)
22 Jul 2015 – $32mil – 27,373 sqft ($1,169 psf)
29 Dec 2010 – $22.5mil – 15,877 sqft ($1,417 psf)

Some of the known past and present residents in this estate include TikTok CEO Chew Shou Zi, who paid the record $2,704 psf for his GCB here in 2021 and “Ferrari Lady” Shi Ka Yee, originally an architect with well known eponymous practice Bedmar & Shi before she got into the press for the wrong reasons in the 2010s.

Others include:

• K. Shanmugam, Singapore’s Minister for Home Affairs and Law
• Koh Boon Hwee, Chairman of SGX, Rippledot Capital Adviser, Sunningdale Tech and Agilent Technologies
• Kuok Khoon Hong, billionaire CEO of Wilmar International
• Susilo Wonowidjojo – Indonesian billionaire founder of cigarette maker Gudang Garam
• Stephen Miller, President & CEO of ST Telemedia
• Tan Soo Nan, former CEO of Singapore Pools
• Frederick Tsao, Vhairman of IMC Pan Asia Alliance
• Nicky Tan, founder of corporate restructuring firm nTan Corporate Advisory
• Kho Hui Meng – former President & CEO of Vitol Asia
• Nasrat Muzayyin, oil & real estate tycoon, multi-asset family office Sebrina Holdings
• Dr Ho Choon Hou, Managing Director at private equity firm Southern Capital and Co-Founder of Cordlife
• Ng Keng Sing of oil company Midas NSSG International
• Stephen Diggle – Founder & CEO of Vulpes Investment Management
• Patrick Teo, former Deputy CEO of Gaylin Holdings