Abu Dhabi, UAEWednesday 13 November 2019

Dyson billionaire splurges $54.2m on Singapore's most expensive penthouse

James Dyson – a staunch supporter of Brexit – moved the brand’s headquarters to the city state in January

British billionaire James Dyson has bought the most expensive penthouse in Singapore, a three-floor residence with a rooftop terrace, private pool and Jacuzzi. AFP
British billionaire James Dyson has bought the most expensive penthouse in Singapore, a three-floor residence with a rooftop terrace, private pool and Jacuzzi. AFP

Billionaire James Dyson, the inventor of the bagless vacuum cleaner, has spent $54.2 million (Dh199.0m) on a penthouse at the top of Singapore’s tallest tower.

The sum is the most ever paid for an apartment in the city state, topping the $44m Facebook co-founder Eduardo Saverin shelled out for a flat in 2017, and was reported by local newspaper Business Times.

“Given the decision to locate the headquarters in Singapore and the growing focus of the company’s business in the region, of course James Dyson has bought a property there,” a Dyson spokesman said, without giving further details of the purchase.

The luxury apartment in Wallich Residence occupies part of Tanjong Pagar Centre Tower. Spanning the 62nd to 64th floors, the triplex has its own infinity pool, Jacuzzi, barbecue pit and private lobby accessible from the basement car park.

In the heart of the central business district, it is said to overlook Marina Bay Sands and the city’s historic shop houses.

Mr Dyson, 72, is the founder and chairman of Dyson, the multi-billion-dollar consumer electronics brand. One of Britain’s best-known entrepreneurs, and a staunch supporter of Brexit, he moved his company’s head office from the UK to the Far East in January to take the business closer to its fastest-growing markets. Dyson will also manufacture electric cars in Singapore.

A view of Guoco Tower, where a luxury penthouse at Wallich Residence is located, in Singapore. AFP
A view of Guoco Tower, where a luxury penthouse at Wallich Residence is located, in Singapore. AFP

To cool its property market, the Singapore government intensified curbs on purchases by foreigners last year following a 9.1 per cent annual increase in home prices and as developers paid record amounts to buy land.

Under the new rules, non-citizens who buy in the city must pay levies of 20 per cent on property transactions, although those who obtain permanent residency are exempt.

Updated: July 10, 2019 06:40 PM

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