SINGAPORE (Reuters) – British billionaire James Dyson, inventor of the bagless vacuum cleaner, has bought Singapore’s most expensive penthouse, official records show.
The three-story penthouse – once valued at S$100 million ($73.44 million) – sits on the 62nd-64th floor, is equipped with a private pool and located in the heart of the city-state’s financial district.
Dyson, a Brexit supporter, announced in January he is moving his head office from Britain to Singapore to be closer to its fastest-growing markets. His eponymous firm – which also makes bladeless fans, air purifiers and hair dryers – plans to build its first electric car in the city-state.
Wallich Residence’s penthouse sits in the tallest building in Singapore, built by developer GuocoLand Ltd (SI:).
Before its unveiling in 2017, the highest asking price for the “bungalow in the sky” reached a dizzying S$100 million, making it Singapore’s most expensive. https://reut.rs/30zpWX9
Official title records seen by Reuters show Dyson and his wife became tenants of the 99-year leasehold property on June 20. The records did not state the price paid but Business Times reported that Dyson bought the property for S$73.8 million ($54.17 million).
“Given the decision to locate the headquarters in Singapore and the growing focus of the company’s business in the region, of course James Dyson has bought a property there,” a Dyson spokesman said, without giving further details of the purchase.
The 72-year-old has become one of Britain’s best-known entrepreneurs, creating a multibillion-dollar company from an insight that a cyclone could collect household dust better than a clogged-up bag.
Singapore is an island of well-heeled stability that attracts the super-rich from its less-developed Southeast Asian neighbors, as well as multi-millionaires from mainland China.
To cool its property market, the Singapore government intensified property curbs last year after a 9.1% annual increase in home prices and as developers paid record amounts to buy land.
Foreigners now have to pay levies of over 20% to buy property in the city-state under the new rules.
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