Son of C.K. Tang seeking $83m for Victoria Park mansion near Botanic Gardens
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Mr Tang Wee Kit is the managing director of Tang Holdings, an investment holding firm that has various property investments in Singapore.
PHOTO: ST FILE
SINGAPORE - A scion of the Tang family behind one of Singapore’s iconic department store chains is seeking to sell his mansion for $83 million, amid an upswing in transactions for the most prestigious properties here.
The good class bungalow, which sits on more than 0.28ha of land, was listed by realtor Knight Frank for sale on June 7. It is located in Victoria Park, a wealthy area near the Botanic Gardens, and has covered parking, eight bathrooms and a swimming pool.
The property is owned by Mr Tang Wee Kit, according to a filing seen by Bloomberg News. He is the son of the late Mr Tang Choon Keng, better known as C.K. Tang. The China-born tycoon established an iconic department store in Singapore’s main shopping belt, Orchard Road, which still operates there today.
Singapore has seen mansion sales increase lately, following a lull that was triggered by rising interest rates and a major money laundering investigation. Recent purchasers of mansions include the wife of Sea’s billionaire founder Forrest Li, a scion of Singapore’s richest banking dynasty and an heir of Chinese metal tycoon Xiang Guangda.
The younger Tang, according to business filings, is the managing director of Tang Holdings, an investment holding firm that has various property investments in Singapore and is a majority owner of C.K. Tang Limited, which runs the Orchard department store and another outlet at VivoCity.
Knight Frank and C.K. Tang Limited did not immediately respond to e-mailed requests for comment. BLOOMBERG
