While there had been rumours going around about Jack Ma building a 2-storey bungalow at Victoria Park Close, here’s another Alibaba co-founder who has been said to own a Good Class Bungalow (GCB) at Leedon Park. Meet James Sheng, the Managing Director of Alibaba Singapore with a GCB located just off one of Singapore’s central districts, Holland Village.
Nestled among a collection of conservation trees, the development generally seems secluded and undisturbed by the general public. They’re also known for their GCBs that look like mansions and luxurious villas – it’s no surprise that the rich and affluent are going around snagging up properties like these.
Image credit: Tuan Sing Holdings Limited
Who is James Sheng?
More about James Sheng, who also goes by Sheng Yifei – he co-founded the Alibaba Group alongside Jack Ma in 1999. Before that, he first got acquainted with Ma when James’ old company was hired to design China’s rendition of Yellow Pages. Since then, he has risen through the ranks to become the Managing Director of Alibaba Singapore.
Alibaba Group’s logo.
Image credit: 1000logos.net
On top of his honorary title as a co-founder, Sheng also has other achievements and milestones to his name. Are you familiar with Alibaba’s smiling logo? He’s the man behind this simple, yet meaningful design – an illustration of a smiling customer within the ‘A’, what the Group aims to achieve for its business.
And I’m sure that some of you will be familiar with the mobile and online payment platform, Alipay. Between 2005 and 2014, Sheng had spearheaded and directed many of the platform’s initial products and operations.
Today, he sits at the top as Senior Vice President of the Alibaba Group and Managing Director of Alibaba Singapore. He even officially became a Singapore Citizen about 1-2 years ago.
$50M Good Class Bungalow at Leedon Park
Image credit: Tuan Sing Holdings Limited
Located at a prime location just off of Holland Road, this GCB boasts a land area of 25,130sqft – which means that he bought the property at about $1,976 psf. A 2-storey freehold property, this GCB is understood to have over 5 bedrooms, a pool, and a spacious attic. The bungalow was previously home to construction engineering company Ocean Sky’s CEO, Edward Ang.
GCBs are typically found in Singapore’s central residential districts, such as Newton and Ang Mo Kio – this one happens to be located near Holland Village, a shopping and F&B hotspot known for its European influence and buzzing nightlife.
One of just 6 GCBs of the Leedon Park Development, this GCB is also in close proximity to the CBD and Orchard Road shopping districts – just a short 10- to 15-minute drive away. Coupled with its large land area and the largely undisturbed environment, it’s not hard to see why it’s gotten the attention of CEOs and wealthy businessmen.
Image adapted from: Google Maps
This isn’t the first time that other properties at Leedon Park have been snagged up by millionaires and influential businessmen for jaw-dropping prices.
In 2020, a 44,435sqft freehold GCB sold for a whopping $73M. A year before that, the Co-Founder of Hongkong-listed AAC Technologies, Benjamin Pan purchased a Leedon Park GCB for $30M. The billionaire, who has an estimated net worth of $9.16B, bought a 2-storey bungalow with an age of less than 10 years, complete with 5 bedrooms and a swimming pool.
Alibaba’s Co-Founder’s GCB home at a prime location
GCBs are the crème de la crème of Singapore’s property market, often located in prime locations such as Districts 10, 11, 20, and 21. With beautiful landscaping and the generous land space, it’s often sought after by the rich and affluent – who have the means to pay a premium for these comfortable, luxurious properties.
As a key pillar and successful businessman behind Alibaba, one of the world’s biggest conglomerates and e-commerce platform, it’s only natural that James Sheng can afford a property with such a hefty price tag.
For more on GCBs of famous and affluent figures:
- Crypto fund billionaire Zhu Su’s GCBs might be worth $83.55M
- HAO Mart CEO’s GCB Looks Like a Spaceship
- Sheng Siong Boss’ ‘Hidden’ $50M GCB