Hotpot chain Haidilao co-founder Shi Yonghong has reportedly purchased a bungalow from the daughter of Singapore’s founding prime minister Lee Kuan Yew.
Haidilao co-founder Shi Yonghong purchased a so-called good class bungalow (GCB) in Cluny Hill from Dr. Lee Wei Ling – Lee Kuan Yew’s daughter – for S$50 million ($35.5 million), according to a «Strait Times» report.
The bungalow sits on land with a total size of 18,255 square feet and is expected to undergo further redeployment.
According to documents, the bungalow's legal transfer of ownership to Shi took place on September 6.
Haidilao Bungalows
Interestingly, Shi’s new bungalow is located in the same neighborhood as the bungalow of Zhang Yong – chairman and follow co-founder of Haidilao. In 2020, Zhang’s wife and another Haidilao co-founder Shu Ping also opened a family office in Singapore.
According to Forbes, Shi and his family ranked 87th on the list of China's richest with a net worth of $4.1 billion.
