JOHOR BARU – The Istana Woodneuk estate in Singapore, which inspired the setting of the blockbuster Hollywood movie Crazy Rich Asians, may be transformed into a multi-billion dollar luxury housing development.
The 21ha estate owned by Johor Crown Prince Tunku Ismail Sultan Ibrahim is currently in discussions with local authorities in Singapore to seek permission to develop the land, according to a Bloomberg report.
With an estimated value between RM8.22 billion to RM13.91 billion, the land is currently zoned for “special use of green space”.
This means that the land will need a reclassification before development can take place.
Singapore’s Urban Redevelopment Authority refused to comment on the matter with Bloomberg, citing “is unable to discuss or disclose plans by private property owners”.
The development project, which could see the development of high-end homes next to the Singapore Botanic Gardens – a Unesco World Heritage Site –- may cost US$3.3 billion to build.
In 1990, the Singapore government purchased a portion of the land for RM77 million, and another 9.7ha for an undisclosed amount in 2009.
The land was initially purchased by the 21st Sultan of Johor Sultan Abu Bakar Daing Ibrahim in the 19th century and made Istana Woodneuk his main residence.
It later became home for Sultan Abu Bakar’s fourth wife, Sultanah Khadijah, before being transferred to Sultan Ibrahim Sultan Iskandar before her death.
Currently, Istana Woodneuk is covered in dense vegetation, is heavily vandalised and deemed unsafe for occupation. – The Vibes, September 28, 2021
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