Richest man in Inner Mongolia’ pays record price of $5,800 psf for unit at Le Nouvel Ardmore

As the home on the 28th floor of Le Nouvel Ardmore was purchased under a trust, Han is likely to have paid 35% extra purchaser’s stamp obligation (ABSD), or an additional $7.8 million in advance. The 35% ABSD for home bought using a count on came into impact from May 9. The trustee may use to the Inland Revenue Authority of Singapore for a reimbursement on the ABSD, provided the requisite conditions are met.

The very first purchase at the vaunted price of $5,800 psf occurred in late June, when a 3,843 sq ft unit on the 28th flooring was sold for an auspicious-sounding $22,288,888. However, no caveat was lodged for this purchase. A home title search and also transfer file revealed that the unit was purchased in trust by Han Jinghua and his better half.

At the 43-unit Le Nouvel Ardmore, established by Singapore-listed building company Wing Tai Holdings, 2 systems were sold just recently for $5,800 psf, a new high for the high-end condo designed by celebrated French architect Jean Nouvel.

Han is a Singapore Permanent Resident. The most up to date version of Hurun Rich List 2022 published by Hurun Research Institute, places Han as the 2,610 th richest in China, with a total assets of regarding RMB2.2 billion ($ 450 million). Han is the just one on the Hurun Rich List that hails from Ulanqab, Inner Mongolia, gaining him the title of “the wealthiest man in Ulanqab”, Inner Mongolia, according to a min.news report on Aug

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Finished in 2014, Le Nouvel Ardmore contains solely four-bedroom houses. There are just 2 units per flooring in the 33-storey tower.

Based upon caveats lodged to date, 32 devices have actually been sold at Le Nouvel Ardmore. If the recent acquisition through a count on were to be included, as well as others marketed without a caution lodged, the number would be higher. The beginning cost for an unit at Le Nouvel Ardmore is $15.174 million, and it’s located in the prime District 10 territory of Ardmore Park, an address synonymous with the rich as well as very discreet.

The second transaction to hit the brand-new document rate of $5,800 psf in July, came quickly after Han’s purchase. It was for a 3,843 sq ft four-bedroom device on the eighth floor that was sold for $22.29 million, based on a caution lodged with URA Realis on July 5. A property title search shows that the purchaser is likely to be Taiwanese.

This is not the only system at Le Nouvel Ardmore that Han has actually acquired. He formerly acquired a 3,789 sq ft, four-bedroom apartment on the 23rd floor for $15.175 million ($4,005 psf), according to a caution lodged in March 2017.

Before these two deals at $5,800 psf, systems marketed from 2020 to 2021 have actually accomplished a median cost of $4,530 psf, the last 2 devices marketed were in September 2021: a 5,360 sq ft duplex on the nine floor for $26.3 million ($4,906 psf) and also the nearby 3,843 sq ft, simplex for $18.46 million ($4,804 psf), based upon caveats lodged.

The very first deal at the vaunted price of $5,800 psf took place in late June, when a 3,843 sq feet device on the 28th floor was offered for an auspicious-sounding $22,288,888. It was for a 3,843 sq feet four-bedroom unit on the eighth floor that was marketed for $22.29 million, based on a caveat lodged with URA Realis on July 5. Based on caveats lodged to day, 32 devices have actually been offered at Le Nouvel Ardmore. The beginning price for a device at Le Nouvel Ardmore is $15.174 million, and also it’s located in the prime District 10 enclave of Ardmore Park, an address synonymous with the very discreet and also rich.