Chinese Metal Tycoon's Heir Buys $62 Million Singapore Mansion [BNN Bloomberg (Canada)]
Sea Limited American Depositary Shares, each representing one Class A Ordinary Share (SE)
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Source: BNN Bloomberg
Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co., the world's largest nickel and stainless steelmaker, agreed to buy the 2,612 square meter (28,111 square foot) house in the country's Bin Tong Park enclave, according to a property record seen by Bloomberg News. She paid S$84 million ($62 million) for the property, a person familiar with the matter said, requesting not to be named because the information is private. The transaction was completed in mid-April. The younger Xiang, who is a Singapore citizen according to property records, didn't respond to a message seeking comment. Tsingshan didn't immediately respond to a request for comment. The purchase adds to a handful of deals softening the downturn in Singapore's luxury property market. Coveted by the uber rich, the city state's so-called good class bungalows have been hit by high interest rates and a major money laundering investigation. In recent months, some have taken advantage of the
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