Jakarta –
The Bachtiar Karim family from Medan, North Sumatra have purchased the historic property ‘House of Tan Yeok Nee’ in Singapore.
Savills Singapore Marketing Agency has announced the sale of the Tan Yeok Nee House through an expression of interest (EOI) competition on Thursday (3/3) yesterday. However, it did not specify how much the transaction value.
Quoted from the property site Edgeprop (4/3/2022), the price of House of Tan Yeok Nee is estimated to be worth Sin $ 85 million or equivalent to Rp. 899 billion, to Sin $ 88 million or equivalent to Rp. 931 billion. This figure is close to IDR 1 trillion. Fantastic isn’t it?
The House of Tan Yeok Nee is a national monument located at the intersection of Clemenceau Avenue and Singapore’s Penang Road built in 1882. The House of Tan Yeok Nee is the only surviving building of the four mansions or known as the Chinese-style ‘Four Mansions’ that were built by four Teochew entrepreneurs in the late 19th century.
“This property is also one of 73 buildings in Singapore, which are designated as national monuments. Of these, there are only 9 properties that are categorized as ‘commercial’ and 5 for private property,” said Savills.
Tan Yeok Nee’s home is an important asset with timeless appeal and enduring value. Our family hopes to cherish its long and precious history. Currently the family is exploring various investment strategies, for the modern generation to enjoy this conservation wonder,” said spokesman for the Karim family, Chayadi Karim quoted from the Channel NewS Asia page (4/3/2022).
Director of investment sales and capital markets at Savills Singapore Ms Yap Hui Yee, stated that EOI’s response to House of Tan Yeok Nee has been overwhelming. Many questions come from new market buyers from China, Indonesia, Hong Kong, India and South Korea.
Quoted from the Singapore Business Review website (4/3/2022), previously the Tan Yeok Nee House, jointly owned by Perennial Holdings and Charles Quay International, has now been sold to the Bachtiar Karim family. The transaction for the purchase of the Tan Yeok Nee House will be completed in May this year.
Tan Yeok Nee’s house was awarded the Urban Redevelopment Authority’s Architectural Heritage Award in 2001. In addition, the historic property also won special praise at the FIABCI Prix d’Excellence Awards in 2002, in recognition of the beautiful restoration that required 100 Chinese craftsmen to complete. finish it.
It is known, the Karim family is the owner of the Musim Mas Group which oversees various types of companies. Musim Mas Group is one of the leading global palm oil companies, with headquarters in Singapore with operations in 13 countries.
The Bachtiar Karim family is included in the Forbes 50 list of the richest people in Indonesia, ranking 10th. Launching the Forbes page (4/3/2022), the total wealth of the Bachtiar Karim family reached US $ 3.5 billion or the equivalent of more than Rp 49 trillion (exchange rate of Rp 14,300).
In October 2019, the Karim family also purchased the Royal Darby Park Executive Suites for US$ 117 million from the Royal Group, owned by Singaporean billionaire Asok Hiranandani.
(fdl/fdl)
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