Ian Ang, a 28-year-old co-founder of Secretlab, a singapore-based maker of ergonomic chairs exercised an option last week to purchase a $38 million bungalow in the exclusive Caldecott Hill area from Dymon Asia Capital Pte.founding partner Danny Yong, according to the Straits Times newspaper. Ang also lodged a caveat this week for a $15 million five-bedroom penthouse near UNESCO-protected Botanic Garden, which he plans to stay at while the bungalow is torn down and rebuilt , according to the report.
It’s an example of how Singapore’s luxury property market has jumped, setting some sales breaking records. The chair maker was started in 2014 and has since expanded its business beyond Asia to Australia, Europe, North america.
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