Singaporean tycoon sells Sydney trophy home

SYDNEY (Dec 18): Singaporean tycoon Ow Chio Kiat has clocked up the third highest house price in Australia for close to A$67 million (RM208.98 million), making it one of the fastest marketing campaigns for a trophy home.

The Sydney Morning Herald report said the deal was struck with a local buyer yesterday just eight weeks after it hit the market. Industry sources say the agreed price is close to A$67 million.

Exclusive listing agent Craig Pontey, of Ray White Double Bay, declined to reveal the sale price, but said he “could confirm that contracts have now exchanged for a record price making it the highest residential waterfront sale of all time”.

This article first appeared in The Edge Financial Daily, on Dec 18, 2017.

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