Tech Billionaire’s Wife Invests in Singapore’s Prime Real Estate Amid Market Lull
Last Updated on April 23, 2024 2:44 am
In a strategic move, Ma Liqian, the wife of tech magnate Forrest Li, has set her sights on a prestigious mansion nestled in the heart of Singapore’s exclusive residential enclave. Despite the luxury property market experiencing a slowdown, Liqian has filed an option to acquire a lavish estate on Gallop Road for a staggering $31 million.
The mansion, situated on a sprawling 1,552 square-meter plot, represents a significant investment in one of the city-state’s most sought-after neighborhoods. Liqian’s decision comes against the backdrop of a cooling market, attributed in part to recent financial scandals and economic uncertainties.
While the majority of Singaporeans reside in government-subsidized housing, the allure of these elite “good class bungalows” lies in their rarity and expansive size. Liqian’s acquisition echoes a trend of high-value transactions, including notable sales at Cornwall Gardens and Ford Avenue.
Forrest Li, whose wealth is primarily tied to his stake in Sea Ltd., Southeast Asia’s leading internet company, faced a downturn in his fortune amid recent tech market fluctuations. However, a rebound in Sea Ltd.’s performance has seen a modest recovery in Li’s net worth, which currently stands at $3.8 billion.
The move underscores Liqian’s astute investment strategy and her confidence in the long-term stability and prestige of Singapore’s real estate market, despite prevailing market conditions.