Brit inventor James Dyson splashes out £43.5million on Singapore’s biggest and most expensive penthouse
BAGLESS vacuum billionaire Sir James Dyson has bought Singapore's most expensive apartment - after moving to the city state where his company plans to build an electric car.
The exclusive three-storey "super penthouse" at the top of Singapore's tallest building reportedly sold for £43.5million.
The five-bedroom "bungalow in the sky" is accessed by its own lift and features a 600-bottle wine cellar, a pool, jacuzzi, and a private garden with city views.
Brexit supporter Sir James, 72, announced plans in January to move his company's head office from Britain to Singapore to be closer to its fastest-growing markets.
He has insisted the move has no link to Brexit - saying the company's future growth lies in Asia.
Dyson was recently given permanent residence status in hte low-tax state.
His firm - whose products include bladeless fans, air purifiers and hair dryers - plans to build its first electric car there.
Dyson's new home in the Wallich Residence penthouse sits on top of the tallest building in Singapore - Tanjong Pagar Centre - built by developer GuocoLand Ltd.
Title records show he and his wife became tenants of the 99-year leasehold property on June 20.
A Dyson spokesman said: "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."
The property was once valued at S$100 million but no further details have been given on the purchase.
The home is impeccably designed and finished with high ceilings and floor-to-ceiling windows and comes complete with an infinity pool, 180m above sea level with sea views.
Singapore is an island of well-heeled stability that attracts the super-rich from its less-developed Southeast Asian neighbours, as well as millionaires from mainland China.
The city intensified property restrictions last year after a 9.1 per cent annual increase in home prices and as developers paid record amounts to buy land.
Foreigners now have to pay levies of more than 20 per cent to buy property under the new rules, but citizens and permanent residents pay far lower taxes.
Leong Boon Hoe of List Sotheby's International Realty explained: "From the onset, the buyer was always going to be a foreigner.
"It's a place to be able to showcase your wealth".
Dyson is one of Britain's best-known entrepreneurs, creating a multibillion-dollar company from an insight that a cyclone could collect household dust better than a clogged-up bag.
Reporting by Fathin Ungku, John Geddie and Aradhana Aravindan.
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