THE wife of Alibaba Group co-founder Jack Ma has bought three adjoining shophouses on Duxton Road in the Tanjong Pagar area.
Zhang Ying, a Singapore citizen, paid about S$45 million to S$50 million for 70, 71 and 72 Duxton Road.
According to The Business Times understands. The properties are on commercial-zoned sites with 99-year leasehold tenures starting from September 1988, leaving a balance term of about 63.5 years.
Prices for street houses in Singapore have soared to a record high of 5,500 Singapore dollars (approximately US$4,000) per square foot, twice the price of Fifth Avenue in Manhattan, the world's most expensive shopping street.
This is not the first time for Jack Ma invests in Singapore, In 2019, Ma reportedly planned to build a two-story bungalow at Victoria Park Close in Singapore at an unknown price.
The Super Rich Are Choosing Singapore as the World’s Safest Haven?
Questions for Tigers:
What motivated the rich person to invest in Singapore?
What impact might this investment have on the local real estate market in Singapore?
Were there any particular factors or trends in the Singapore real estate market that influenced rich person‘s investment decision?
Comments
1. Its a stable economy
2. Corruption is low
3. More potential upside due to positive flywheel effect.
On real estate prices, private property or commercial property prices are likely to trend up, with little effect on local HDB houses.
What are your thoughts? [Grin]
因此，他们选择将资金投资于新加坡的房地产也就不足为奇了。也许如果我们经常走过那里，可以瞥见他们。哈哈
2. Strategic shipping location that is the gateway of Asia where West meets the East
3. World class financial centre that allows capital to flow freely in and out
4. Technological hub with major US and China IT companies setting up regional HQs
5. Top universities in Asia providing quality education for their younger generations
6. Established medical institutions or hospitals that offers first world medical services for older generations
🌟🌟🌟是一个安全的避风港，有稳定的政府，良好的基础设施和养育孩子的好地方。难怪超级富豪涌向新加坡。他们设立了家族理财室，要求管理的资产至少1000万新币，并在未来两年内增加2000万新币。作为回报，Ultra Rick的收入可以免税，还可以住在一个很棒的地方。
新加坡的3家本地银行提供世界一流的金融服务$星展集团控股(D05.SI)$
新加坡也有世界一流的医疗服务，如伊丽莎白山，格伦伊格尔斯医院$百汇生命产业信托(C2PU.SI)$ 。
这就是超级富豪涌向新加坡的原因。作为一个新加坡人，我很感激生活在这里，这里有和平与和谐。新加坡，我的家，我的祖国——我爱你，💕💕💕
@Tiger_SG @TigerStars
Wow really more and more investment done in Singapore these recent years. There are definitely some valid reasons behind. Why Singapore? [Doubt] [Doubt] [Doubt] [Thinking] [Thinking] [Thinking]
As we know, Singapore has long held its status as a premier destination for international companies. Whether it is an international expansion or setting up company headquarters, the country has been the focal point for commercial ventures across ASEAN and Asia. The favorable legal and tax regimes largely shape the country status as a preferred investment destination in Asia. Singapore boasts a highly integrated financial system, besides being one of the most investor and business-friendly countries in the world. [Wow] [Smart] [Smart] [Smart] [Bless] [Bless] [Bless]
Singapore boasts a prime location in the heart of Southeast Asia, located between Indonesia and Malaysia. This strategic positioning provides seamless access to transport and trade links across the region. Being centrally located, Singapore continues to be an alluring destination to some of the most rapidly expanding and vibrant markets of the world. [ShakeHands] [ShakeHands] [ShakeHands] [OK] [OK] [OK]
Singapore multicultural society, with various cultural and linguistic connections to ASEAN members, delivers a strategic advantage to the country. In Singapore, English is the primary working language. This fosters effective communication with investors from all over the world. [USD] [USD] [USD] [Applaud] [Applaud] [Applaud]
Singapore welcomes companies with a wide array of fiscal and non-fiscal incentives to strengthen economic development in the country. Applicants need to fulfill stringent criteria, commit to specific investment levels and introduce cutting-edge skills and technology. These incentives aim to promote innovation and economic growth in the country. In return, Singapore offers privileges like reduced corporate income tax rates. [OMG] [OMG] [OMG] [Blush] [Blush] [Blush]
Singapore corporate tax regime is among the best in Asia. For commercial profits, it features a corporate income tax rate of flat 17%. The territorial tax system ensures that companies are not taxed on most types of foreign-sourced income. [Miser] [Miser] [Miser] [LOL] [LOL] [LOL]
One of the paramount advantages of running an international business in Singapore is the extensive network of nearly 100 double taxation agreements (DTAs). The country also has 24 free trade agreements (FTAs) in place which are both limited and comprehensive. They cover different types of income and facilitate tax information exchange. The presence of FTAs with ASEAN member states enhances the country competitiveness in the vast market.
I believe all these are the reason that makes Singapore to be a heaven for whatever investments. How do you think?
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