Johor Regent seeking to sell prime land near Botanic Gardens: Report
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Representatives of the Regent of Johor, Tunku Ismail Sultan Ibrahim, have approached developers in Singapore and other potential buyers, Bloomberg said.
PHOTO: ST FILE
Follow topic:
- Johor's Regent, Tunku Ismail, is considering selling his 16.6ha prime land near Singapore Botanic Gardens, estimated to be worth at least $3.5 billion.
- This follows a land swap in June where Tunku Ismail will receive 8.5ha of state land for his 13ha plot, expected to finalise in 2025.
- Tunku Ismail intends to develop his land, and the swap ensures "least disruption" to the Botanic Gardens UNESCO site; potential for low-rise residential development.
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SINGAPORE – A Malaysian royal is seeking to sell a 16.6ha plot of prime land near the Singapore Botanic Gardens, business news outlet Bloomberg reported on Sept 25.
Representatives of the Regent of Johor, Tunku Ismail Sultan Ibrahim, have approached developers in Singapore and other potential buyers, Bloomberg said, citing sources.
Tunku Ismail is considering selling some or all of the land outright, or keeping a minority stake in any development, the sources said. Discussions are at an early stage and may not result in a sale.
According to estimates by property analysts, the whole land parcel – comprising an 8.5ha plot involved in a land swop with the Singapore Government and another 8.1ha parcel – is worth at least $3.5 billion.
This comes after a land swop deal between Singapore and Tunku Ismail in June
The exchange involving the freehold land in Tyersall Park – an area privately owned by the Johor royal family since the 1800s – is expected to be completed in 2025.
Tunku Ismail owns another 8.1ha of land in between the two plots.
Representatives for Tunku Ismail and the Johor royal family’s press office did not respond to Bloomberg’s requests for comment.
The Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) said the agencies are not involved in plans by private property owners.
“URA and agencies will assess any development applications and ensure that the proposed development is sensitive to the surrounding site context,” they said.
“Prior to the commencement of any works, the development will be subject to environmental studies to mitigate any potential impact on the environment.”
Bloomberg had valued the Johor royal family to be worth at least US$5.7 billion (S$7.3 billion) in 2024, with their Singapore land accounting for the bulk of the fortune.
Tyersall Park is the historical Singapore residence of the Sultan of Johor, and Singapore has over the years bought some land from the royal family.
Portions of the land that Singapore bought from the family have been developed as the Botanic Gardens’ Tyersall and Gallop extensions.
The 13ha plot of land that Singapore will receive as part of the land swop deal is at the junction of Tyersall Avenue and Holland Road.
ST PHOTO: GIN TAY
SLA and URA said in June that Tunku Ismail intends to develop his land, and that the swop was agreed upon so his planned developments will be farther away from the 49ha portion of the Singapore Botanic Gardens that was inscribed as a Unesco World Heritage Site in 2015.
The agencies said the swop will ensure that the planned developments have the “least disruption” to the World Heritage Site area of the gardens.
After the swop, Tunku Ismail may develop the 8.5ha and 8.1ha plots, which are suitable for low-rise and low-density residential uses.
These plots are some of the most prime land on the island, near designated good-class bungalow areas. One mansion in nearby Gallop Park was sold for $58 million in January.
