Shanda Co-Founder Sells Tanglin Hill GCB Bungalow for S$76 Million
Good Class Bungalow | The Business Times | 30 May 2026
A freehold bungalow in Tanglin Hill has been sold for S$76 million, or about S$3,169 per square foot based on the freehold land area of 23,979 sq ft. The two-storey house with swimming pool, located within the Ridley Park Good Class Bungalow Area, was sold by Shanda Group co-founder Chrissy Luo, who paid S$38.8 million for the property in 2011.
Sale Price
On Land Area
Freehold Land
2011 Purchase Price
Seller and Buyer Profiles
The seller, Chrissy Luo (also known as Luo Qian Qian), co-founded Shanda Group with her husband Chen Tianqiao. The couple founded Shanda Interactive Entertainment in 1999, which listed on Nasdaq in 2004 and became a major online entertainment developer and publisher in China. In 2012, Chen took the company private and repositioned it as a global investment group with offices in Hong Kong, Shanghai and Singapore.
The couple moved from Shanghai to Singapore in 2009 and relocated to California in late 2017. The sale of the Tanglin Hill bungalow was contracted in December 2025 and completed in February.
The buyer is a naturalised Singapore citizen listed as a trustee holding a Sentosa Cove bungalow that was recently transferred by H World Group founder and executive chairman Ji Qi. Ji also co-founded Trip.com, one of China’s biggest online travel service providers. H World Group operates more than 13,000 hotels globally under brands including Hi Inn and JI Hotel. The beneficiary of the trust is a child who is a minor.
Valuation and Market Context
Realstar Premier Group managing director Julian Yip described the S$3,169 psf as a fair price to the seller, given the relatively large plot size and assuming the house is in move-in condition. Yip noted that Tanglin Hill is a well-sought-after GCB locale and the site area of close to 24,000 sq ft appeals to some buyers.
Bungalows in the 39 gazetted GCB Areas are the most prestigious form of landed housing in Singapore, with strict planning conditions to preserve their exclusivity and low-rise character. A minimum plot size of 1,400 square metres, or 15,070 sq ft, is specified as the planning norm for newly created bungalows in GCB Areas.
The record price in terms of psf on land area in a GCB location stands at S$6,197, for a Tanglin Hill property transacted in 2024. That house was built on a 15,150 sq ft site and had an absolute price of S$93.9 million, delivered on a completed basis and furnished to the buyer’s requirements.
Yip added that had the nearby bungalow sold by Luo been of a similar site area, it would have fetched about S$3,500 psf or even higher, considering it is not a newly built property.
Chen Family’s Other Property Interests
The Business Times understands that the Chen family continues to own a freehold bungalow in Cable Road, acquired in 2016 for S$23 million, or S$1,518 psf on the site area of 15,148 sq ft. Luo bought that property in trust, with the beneficiary being the couple’s daughter, who at the time was a minor.
Frequently Asked Questions
How much did the Tanglin Hill GCB sell for?
The freehold bungalow sold for S$76 million, or about S$3,169 per square foot based on the land area of 23,979 sq ft. The seller, Chrissy Luo of Shanda Group, had paid S$38.8 million for the property in 2011.
Where is the Tanglin Hill bungalow located?
The property is located within the Ridley Park Good Class Bungalow Area in Tanglin Hill. It is a two-storey freehold house with a swimming pool that has been refurbished over the years.
Who bought the Tanglin Hill bungalow?
The buyer is a naturalised Singapore citizen listed as a trustee holding a Sentosa Cove bungalow recently transferred by H World Group founder Ji Qi, who also co-founded Trip.com. The beneficiary of the trust is a child who is a minor.
What is the GCB price record for Tanglin Hill?
The record price on a psf-on-land basis in a GCB location is S$6,197, achieved for a Tanglin Hill property transacted in 2024 on a 15,150 sq ft site. That house sold for S$93.9 million on a completed and furnished basis.
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