Singapore
Former Minister Mah Bow Tan sells prime district Good Class Bungalow for $50 million
Edgeprop reports ex-Minister Mah Bow Tan sold his Holland Rise GCB for $50M to Singapore citizen Wang Qianqian, covering 28,376 sq ft in District 10.
In a notable real estate transaction first reported by Edgeprop.sg, former Minister for National Development, Mah Bow Tan, has sold his Good Class Bungalow (GCB) located at Holland Rise for $50 million.
The property, nestled in the serene enclave of Holland Rise in District 10, covers an expansive 28,376 square feet and is said to have been sold to Wang Qianqian, a Chinese national who has become a Singapore citizen.
Mah, who stepped away from politics in 2015, initially purchased the freehold site in 1992. The sale to Wang was finalized in August of the previous year, with the contract being signed in April 2023.
According to the report, Wang Qianqian, the new proprietor of the GCB at Holland Rise, is also said to be linked to another prime property within District 10.
Property title searches by Edgeprop.sg revealed that her brother, Wang Tianlong, acquired a GCB at Leedon Park for $37.3 million in January 2021. The young Wang siblings are emerging as significant figures in Singapore’s luxury property scene.
The Holland Rise real estate market has witnessed considerable value appreciation in recent years. For instance, a 52,992 square foot GCB plot in the area was listed for $68 million in January 2021, only to see its price soar to $106 million by November 2022. This upward trend highlights the robust demand for luxury properties in Singapore’s prime districts.
Mah Bow Tan’s career in politics spanned several decades, beginning with his entry into the political arena in 1988 as part of a People’s Action Party team contesting in the Tampines Group Representation Constituency.
Mah had previously run in the Potong Pasir Single Member Constituency in 1984, where he was defeated by Chiam See Tong.
Following his departure from politics in 2015, Mah has engaged in various business endeavours, including roles as an independent director and non-executive chairman of Global Yellow Pages and, more recently, as an adviser and director of the fintech firm HydraX.
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All the oppo losers jealous of ah Mah. But if the election results has been so, for close to 60 yrs…I would expect ppl like ah Mah to have more than 1 GCB!
So?
Election coming again…same shit on another different day?
Or after election result of 2025, come back here to kow peh kow bu…yet again for another 5 yrs, rinse and then repeat?😆😆😆🤣🤣🤣
$!000 salary can afford HDB. Now AMK DBSS selling more than $1,200,000 tsk tsk tsk
Laughing all the way to the bank. tsk tsk tsk
You are right er.. why are we paying for the land cost when it is the land of the citizens .. we pay ourselves while pee air pee pocket the money .. in that case we locals cannot even afford stupid HDB while Chinese immigrants buy up GCBs and luxurious condo and laugh at our shitty flats
There you go, locals can only afford a stupid HDB while rich new Chinese immigrants buy up GCBs and luxurious condo. This is what pee air pee offers citizens.
Having DIE yet
Recently one gone
CANNOT MADE IT .
What’s the impact on society for selling sky high, to a foreigner(still a foreigner after conversion), under his policies in the long term?Many economic and financial experts have already vividly painted the doomsday scenario in detail oo you know where the property market is heading but does he, his comrades, care?
The former minister who had a hand in housing policies is now enjoying the “kickback”(50M) of his laws. All very legal and upright in consumers eyes too
Riche rich mah
You deserve it cause your o level results better than chiam’s (incidentally cotton sheep is scrapping gce o levels soon).
You sold your luxury bungalow to new China man citizen?
Got Do screening by bank, by lawyer by URA
No bad to be a pappy ministar eh!!
Got half dozen of bungalows, loads of directorships and also ang mo spouse. No need to let people know assets, hehe.
Uncle also want leh, can or not.
GCT made it legal for Ministers to be paid millions in dollars selling them as top brains. The simple truth that 80% live in Public Housing using retirement funds shows the “top brains,” at work. In contrast our founding fathers were not paid a million dollars but ensured that the State’s wealth was held by true blue Singaporeans not imported foreigners made citizens. As property prices continue to rise the burden of high prices are borne by the 80% where most recycling of land takes place and increased subsidies have to continue which will increase GST. Top brains or shit… Read more »
“…sold his Holland Rise GCB for $50M to Singapore citizen Wang Qianqian..”
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The name sounds like a New Citizen, not Singapore citizen. Only the pappies kelong such that HNWI = New Citizen = Singapore citizen = pap supporter. The money flow to solving our population issue.
There is a need for economic justice and meritocracy. Poor man work hard 24/7 as cleaners, construction workers,etc cannot get $1m but rich and powerful people get all the gains in air-con room, doing paper work and mess up all things with lousy policy. Rich and powerful like scholar never get punish for wrongs instead rewards for wrongs.The society is in the wrong direction.
Easier on the pocket too if left dilapidated isn’t it?
People study hard worl hard m reap rewards. You chee byes don’t study fail PSLE math science English, don’t upgrade, ride bicycles to deliver food, jealous of others. If i were u, I will just jump down from mbs and kill myself
Who can afford except the rich chinese business man? Moral of the story in sg? Pays to be snakey and rent GCBs instead of buy. You get to live like agong without the encumbrances or burden of ownership of such a property. Your millions can then be better invested to service you while you live like an agong or king.
Is this corrupt? Not under the law. His laws.
You can’t get rich in politics unless you’re a crook.” — Harry Truman ANNOTATION This quote is popular on the internet. However, Harry Truman did not say this so explicitly. No young man should go into politics if he wants to get rich or if he expects an adequate reward for his services. An honest public servant can’t become rich in politics. He can only attain greatness and satisfaction by service. Off the Record: The Private Papers of Harry S. Truman (1997), ed. Robert H. Ferrell, p. 306 (Google Books). Also quoted at “Harry Truman. .evidently in Sin City you can… Read more »
Since he saw someone renting B&W at Ridout …SO CHEAP…AND SO BIG AND WITH THE STATE REFURNISHING THE PROPERTY, JUST FOR CERTAIN TENANT….ah Mah might as well do it as well…..just the interest alone from the $50 m can pay the rental already with lots of change left over!!
While you Sinkie peasants, can rot in your rented HDB instead!!😆😆😆😆🤣🤣🤣🤣
Tiny SG have made it too easy for rich foreigners to convert to Citizens to buy the very limited supply of landed home, thus the price surge last 5 to 8 years. Same goes to shophouses, anyone with money, clean or dirty (like Fujian gang) can just snap up the limited supply of shophouses, causing prices to shoot up 300% to 1000% in just 10 odd years. Since there’s no Capital gain tax and no Estate Duties, many rich foreigners just want to park their money here clean or dirty we won’t know. They know they are well taken care… Read more »
Loong said the rich help to create jobs.
Is MBT rich?
So how many jobs has MBT and other numerous rich PAP Administration Ministers, incl those living in concessioned rents Bungalows created single handedly – gardeners, cleaners, maintenance people, drivers? And is there proofs these jobs taken up by locals or Cheap Foreign Trash?
So they cramped all the seniors who has had a big hand to built up what SG is today and then these MBTs heap buckets of benefits onto and unto themselves.
Then the Desmond said bcz of land restrictions, all seniors can be housed in army barracks like facilities, a few into a sleeping room to share common kitchen and shower 🚿 utilities.
WHO DO THE AREA CLEANING – a minimum assurance for these seniors to live CLEANLY and DECENTLY with ZERO filth? After all CANNOT EXPECT seniors to CLEAN UP right?
This is just MBT !!!
Can you imagine what the others, … with multi portfolios and executive~ships here, there and everywhere is able to stash away, without even having to publicly declare it !!!
The biggest earner amongst them all, has got to be the electrical engineer though, … by an almighty margin !!!
Anyways, … there’s certainly moniessss in politics, especially in SillyPore !!!
All made possible by the idiots, imbeciles and ignoramuses of SillyPore, … who gave ministers and this regime carte blanche !!!
Do not turn stones into bread. Nations who milked unjust gain, especially for the rich or those with the means, are feeling the impact and destructions of this “foundation” of wealth or prosperity in their society – like in China, Korea, Japan, HK even singapore. Their western counterparts are no exceptions too obviously.
And who laid the foundation of wealth for the rich?
So now Ministers dun want to declare assets locally and overseas … How many lease of life they will have?!? Can purge and acquire more citizens asset as well … Especially whole family purge. No honor!!!
Sell one of their Property and wah lah .. second lease of life. You think the common citizens have such luxury?!? One property one CPF account oso want to control and eat ppl resources. You arse Leadership has No Honor!!!