Super-Rich China Hotpot Tycoons Pile Into Singapore’s Top Homes
Haidilao restaurant co-founder Shi bought a good class bungalow in September. The company’s co-founders and their family members now own at least three of the mansions.
Good class bungalows and other residences near the Botanic Gardens in Singapore.
Photographer: Bryan van der Beek/BloombergAs prices for some of Singapore’s most prestigious homes soar to records, the latest purchase by a China-born restaurant tycoon underscores just how strong demand remains among the world’s super-rich buyers.
Sean Shi, one of four co-founders of China’s largest hotpot chain, Haidilao International Holding Ltd., paid S$50 million ($35 million) for a so-called good class bungalow in a prime area near the Botanic Gardens in September, local media the Straits Times reported. It’s at least the third such luxury residence bought by one of the co-founders -- at least three of whom are now Singapore citizens -- or their family members.