Tunku Ismail Ibrahim, the eldest son of Malaysia's King and the Regent of Johor, is reportedly looking to sell a substantial 16.6-hectare (41-acre) plot of land in a prestigious residential area of Singapore. This potential sale could be one of Singapore's largest-ever real estate transactions, with the land estimated to be worth at least S$3.5 billion ($2.7 billion), according to local property analysts. Representatives for Tunku Ismail have approached developers in Singapore and other potential buyers, although discussions are currently in their early stages and a sale is not guaranteed.
The land in question, located near the Singapore Botanic Gardens in an area historically known as Tyersall Park, is classified as freehold, making it particularly valuable compared to typical leasehold residential plots in Singapore. The Johor royal family has owned land in this area for over a century. In June, a land swap agreement was reached with the Singaporean government, where Tunku Ismail would receive an 8.5-hectare plot in exchange for 13 hectares closer to the UNESCO World Heritage Site of the Botanic Gardens. This swap, expected to be completed in 2025, aims to facilitate development on Tunku Ismail's land while minimizing disruption to the heritage site.
Tunku Ismail is exploring several options for the land, including an outright sale of some or all of the property, or retaining a minority stake in any future development. The Johor royal family, whose fortune was estimated by Bloomberg last year at $5.7 billion with the Singapore land accounting for the majority, stands to gain significantly from such a sale. The Singapore Land Authority and Urban Redevelopment Authority have stated they are not involved in private property owners' plans but will ensure any development applications are sensitive to the surrounding environment and undergo necessary environmental studies.
