SINGAPORE: 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 - sits on the 62nd to 64th floor, is equipped with a private pool and located in the heart of Singapore's financial district.
AdvertisementAdvertisementDyson 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.
Founder of the Dyson company, designer James Dyson, poses during a photo session at a hotel in Paris on Oct 11, 2018. (Photo: AFP/Christophe Archambault)
[h=3]READ: Dyson to move corporate head office to Singapore[/h]Wallich Residence's penthouse sits in the tallest building in Singapore, Guoco Tower, built by developer GuocoLand.
AdvertisementAdvertisementBefore 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.
Official title records seen by Reuters show Dyson and his wife became tenants of the 99-year leasehold property on Jun 20. The records did not state the price paid but Business Times reported that Dyson bought the property for S$73.8 million.
Wallich Residence is located at the top of Guoco Tower, the tallest building in Singapore. (Photo: Wallich Residence website)
[h=3]READ: Dyson looking to hire 'substantially' more electronic engineers, digital marketers in Singapore[/h]"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.
In July last year, Singapore intensified property curbs in a bid to cool the market after a 9.1 per cent annual increase in home prices and as developers paid record amounts to buy land.
Foreigners now have to pay levies of more than 20 per cent to buy property in Singapore under the new rules.
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The three-story penthouse - once valued at S$100 million - sits on the 62nd to 64th floor, is equipped with a private pool and located in the heart of Singapore's financial district.
AdvertisementAdvertisementDyson 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.
[h=3]READ: Dyson to move corporate head office to Singapore[/h]Wallich Residence's penthouse sits in the tallest building in Singapore, Guoco Tower, built by developer GuocoLand.
AdvertisementAdvertisementBefore 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.
Official title records seen by Reuters show Dyson and his wife became tenants of the 99-year leasehold property on Jun 20. The records did not state the price paid but Business Times reported that Dyson bought the property for S$73.8 million.
[h=3]READ: Dyson looking to hire 'substantially' more electronic engineers, digital marketers in Singapore[/h]"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.
In July last year, Singapore intensified property curbs in a bid to cool the market after a 9.1 per cent annual increase in home prices and as developers paid record amounts to buy land.
Foreigners now have to pay levies of more than 20 per cent to buy property in Singapore under the new rules.
Let's block ads! (Why?)
More...