Imelda Tanoto bought a 30 million house

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ACTIVITY in the Good Class Bungalow market is starting to pick up with a few deals done recently.Along Margoliouth Road off Stevens Road, a two-storey, old bungalow has changed hands for $30.8 million. This works out to $1,696 per square foot on its land area of 18,161 sq ft.

Located at a cul de sac, the freehold property has a swimming pool, five bedrooms and a maid’s room. It is likely to be redeveloped.

The property is being sold by a retiree couple. The buyer is Imelda Tanoto. The Singapore citizen owns an adjoining bungalow while her parents Sukanto Tanto own another bungalow nearby.

Ms Tanoto is the eldest daughter of Singapore-based Indonesian tycoon Sukanto Tanoto of the Royal Golden Eagle International group, a holding company with businesses in a range of industries including paper, palm oil, construction and energy. It owns Singapore-headquartered Asia Pacific Resources International Limited, one of the world’s biggest and most corrupt producers of fibre, pulp and fine paper.

 

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