Daughter of Malaysia’s Public Bank Founder Sets Record with $94M Singapore Property Purchase
Diona Teh Li Shian, daughter of Malaysia’s Public Bank founder Teh Hong Piow, set a record with her $94 million purchase of a luxury Good Class Bungalow (GCB) in Singapore’s prestigious Tanglin Hill. The property, priced at $6,197 per square foot, is the highest ever paid for a GCB, underscoring the location’s exclusivity and the estate’s opulence.
The 45-year-old heiress, who became the public face of her family after her father’s passing in 2022, purchased the 15,150 square-foot property in one of Singapore’s most coveted locations. GCBs are rare and highly desirable, with only about 2,800 in existence, and are primarily reserved for Singaporean citizens.
Diona Teh’s acquisition of a Good Class Bungalow (GCB) in Tanglin Hill has broken records in Singapore’s real estate market, with a price tag of $94 million. The bungalow, currently under construction, was sold for a remarkable $6,197 per square foot, surpassing the previous record of $4,500 set in 2023. The property sits on a 15,150 square-foot plot, offering Teh an expansive new home in one of the city’s most exclusive neighborhoods.
Spanning 2,756 square meters, the mansion includes high-end amenities such as a 25-meter pool, a walk-in wine chiller, and an 18-seat private theatre. The interior features imported Japanese oak, while the stone-clad exterior exudes elegance. Designed by Meir Homes, a developer specializing in GCBs, the property epitomizes luxury.
Teh, a Singaporean citizen, plays a key role in her family’s business dealings. Her late father, Teh Hong Piow, founded Public Bank, Malaysia’s second-largest lender by market value. The Teh family remains a major shareholder in Public Bank, maintaining its financial influence in both Malaysia and Singapore.
The Teh family’s wealth and influence are closely linked to Public Bank’s success, and Diona Teh has taken on a more visible role since her father’s passing. This record-breaking GCB purchase underscores the family’s financial strength and preference for prime real estate investments in Singapore.
Diona Teh’s record-breaking GCB purchase in Tanglin Hill represents more than just a luxury investment—it is a statement of the Teh family’s continued influence in both Malaysia’s banking sector and Singapore’s luxury real estate market. The Teh family’s strategic investments continue to strengthen their financial footprint in the region, while their acquisition of exclusive properties such as this further cements their legacy.
Sources: The Straits Times (2025), Mothership (2025)
Keywords: Diona Teh, GCB Singapore, Luxury Mansion, Tanglin Hill, Public Bank Heiress, Property Record
