Wealth

The Estate That Inspired Crazy Rich Asians Is Getting a Luxury Upgrade

It is owned by the Crown Prince of Johor.
IMAGE PUBLIC DOMAIN

There is a sprawling plot of land in Singapore that allegedly inspired Crazy Rich Asians author Kevin Kwan to dream up the spectacular Young family estate seen in the film version of his novel. 

The estate, which is 30 times the size of the White House estate, will undergo a $3.3 billion luxury upgrade, according to Bloomberg. The development is part of a state-wide boom in the residential market. 

Despite the pandemic, Singapore’s residential market saw accelerated hypergrowth, recording $24.3 billion in sales from January to June 2021. Bloomberg says that is double the level recorded in Manhattan over the same period.

What will rise in the Crazy Rich Asian estate?

Currently, the vacant land is zoned as a green space for special use. That means it could be developed into either commercial, residential, or restricted spaces. It is now owned by Tunku Ismail Sultan Ibrahim, aka the Crown Prince of Johor. He is in talks with developers of high-end homes regarding what will happen to his sprawling jungle.

The estate is part of the historic Tyersall Park, where the palace of the Sultan of Johor once stood. Today, the ruins of that palace have been overrun by jungle. Because of the sensitivity surrounding the site, parties involved in the talks have kept discussions under wraps. The Urban Redevelopment Authority did not disclose plans by the owner and potential developers.

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