The family of the Haidilao hotpot chain co-founder is looking ot buy a bungalow in Gallop Road next to the family’s existing villa.
Noteworthy is the option to purchase was granted last month to Mr Zhang’s son at $42 million. This is $1,940 per square foot based on the freehold land area of 21,647 square feet with an old house on the site. This compares to the $1,700 psf the family paid in 2016 for the next door bungalow which was about four years old at the time. It sits on 15,884 square feet of land and was designed by K2LD Architects.
Mr Zhang and his wife, Shu Ping, are ranked by Forbes as Singapore’s richest with an estimated net worth of US$19 billion as at August 2020.