New price record set by property magnate Wee Thiam Siew's family for Olive Road GCB at $50.2m

Due to the recent increase in prices in nearby GCB areas, buyers are taking note of the Olive Road area, which is near MacRitchie Reservoir. PHOTO: SHOWSUITE CONSULTANCY AND CBRE
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SINGAPORE - The family of the late property magnate and hotelier Wee Thiam Siew has bought a good class bungalow (GCB) in Olive Road for $50.2 million, six months after they concluded the largest residential land sale here since the July 2018 property cooling measures.

The Wee family sold freehold land plots in Thiam Siew Avenue in the Katong area in November last year for $815 million.

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