Think about household paint brands, and Nippon Paint is sure to be one of the first to come to mind. Perhaps best remembered for their memorable ads featuring a paint-wielding sumo wrestler, Nippon Paint is actually a well-established household name having started in Singapore all the way back in 1955 by Singaporean billionaire Goh Cheng Liang. 66 years on, the latter is estimated by Forbes to have a net worth of around $13 billion as of 2022.
So what would one do with over $13 billion to his name? One common trait amongst the rich and affluent here in Singapore is to snap up properties. And not just any property, but Good Class Bungalows (GCBs) in particular. This leads us to Goh Cheng Liang; not only does he own a $93M GCB, but also a number of superyachts docked at Marina Keppel Bay.
Where is Goh Cheng Liang’s $93M Good Class Bungalow?
According to reports, Goh Cheng Liang and his family bought the bungalow sometime back in 2020. The house sits on 101,550sqft of freehold land, which is pretty formidable – about the size of one and a half football fields! From what we know, the GCB that Mr Goh bought was previously owned by a family who ran the Thye Hong Group, best known for making beloved confectionery snacks like Marie biscuits and Torch sweets.
Image adapted from: Google Maps
The GCB sits along Garlick Avenue which, curiously enough, isn’t anywhere near any of the other food-named roads like Lorong Lew Lian or Mulberry Avenue. The road is actually named after Dr George Herbert Garlick, who was the Medical Director of the Singapore Anti-Tuberculosis Association from 1948-1958.
Image adapted from: Google Maps
If you’re wondering where Garlick Avenue is, it sits in the vicinity of Bukit Timah, part of the highly coveted District 10 region of Singapore. The stretch of road is somewhat in the middle of the ‘rich’ enclave of places like Sixth Avenue, Namly Avenue, and Old Holland Road, famous for its many multi-million dollar GCBs and thus earning the term Good Class Bungalow Areas (GCBAs). Taking a walk down these roads is sure to give you major house envy.
Image adapted from: Google Maps
Before it was sold to Mr Goh, the property had allegedly garnered quite a significant amount of interest from various parties. One of its main unique selling points was its large land size, which opened up several possibilities about its eventual use. For instance, the owner could subdivide the plot to house an additional 5 smaller GCBs, or just build one giant mansion with sprawling gardens and frontage.
Additional GCB at Queen Astrid Park
What may or may not be surprising to you is that the Garlick Avenue GCB is not the only GCB that Mr Goh and his family owns.
Image adapted from: Google Maps
About 5 years ago, it was reported that Mr Goh’s granddaughter had bought a GCB at Queen Astrid Park, for about $44.5M or $1,271 psf. In case you’re unfamiliar, Queen Astrid Park is also another GCB enclave in Singapore, home to the GCB which set the record for having a $200k/month rental cost, and TikTok CEO Chew Shou Zi’s $86M home.
The property sits on the junction between Queen Astrid Park and Coronation Road West, and as you can see from the street view image above, is a quaint 1-storey bungalow which comes with a long driveway and a giant garden frontage.
You can also tell that privacy is one of the main concerns for the family; apart from the front of the site where this street view image was taken, the rest of the perimeter is covered up with plants and shrubbery to deter prying eyes from constantly kaypoh-ing and trying to take a peek inside.
Owner of Super Yacht White Rabbit
When it comes to flexing your wealth, luxurious and exquisite properties may be a thing, but we’d argue that other asset classes are a whole new ball game altogether. This brings us to the fleet of superyachts that Mr Goh owns.
Image credit: Motor Yachting
According to Motor Yachting, Mr Goh owns an absolutely stunning 276ft super yacht called the White Rabbit, valued at US$100M and is the largest tri-hull vessel in the world. What’s even more breathtaking is that this is not the only marine vessel he owns – apparently, he commands a fleet of over 6 yachts all called the White Rabbit, which he purchased throughout the years between 1989 and 2017.
Image credit: u/djmpence
If you head down to the marina at Keppel Bay, you should be able to catch the vessel in all of its grandeur, eclipsing other smaller vessels berthed in the area.
Nippon paint magnate Goh Cheng Liang’s legacy
One of the things that we’ve observed about Goh Cheng Liang is that he has been, for the large part of his life, a very private person. He doesn’t take part in too many interviews, and also doesn’t flaunt or show off his wealth pompously which can be rather tempting to do so, especially if you have over $13 billion to your name.
With the GCB market thriving and bustling with activity from some notable purchases in the past year or so, it’s apparent that the ultra-wealthy have been making moves to sink their roots here in Singapore with property purchases.
While the reality is that the majority of us won’t ever be able to attain that level of wealth in our lifetimes, it certainly doesn’t hurt to be wowed and amazed by all the luxury assets being snapped up, and marvel at what money can get you here in Singapore!
@uchify.sg He do be painting his way into the real estate market ?? #sgproperty #sgnews #sghome #luxuryhomes #sghomes #realestate #housetour #tiktoksg #fyp ♬ Sugar Daddy – Qveen Herby
Check out some of our other articles covering notable GCB purchases here in Singapore:
- Alibaba Co-founder James Sheng Has A $50M GCB, One Of Six Along Leedon Park
- HAO Mart CEO Has An Exquisite GCB That Resembles A Spacecraft, Shaped Like An ‘8’ For Prosperity
- Hai Di Lao Family Owns 2 GCBs On Gallop Road, Comes From All Your Hotpot Money
Cover image adapted from: Google Maps, Motor Yachting
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