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The Real 'Crazy Rich Asians' Palace is Actually Worth USD3.5B!!

The Real 'Crazy Rich Asians' Palace is Actually Worth USD3.5B!!
Feb 27, 2019
6:02 pm

You must've recognized this historical palace from that overly hyped Asians-Big-in-Hollywood movie, 'Crazy Rich Asians'.

It's called Istana Woodneuk and it's worth USD3.5 billion!

So I'm pretty sure you're wondering "siapa la real Crazy Rich Asian nih...?" right?

Who else.... this fella la!

Johor's Crown Prince, Tunku Ismail Sultan Ibrahim.

I mean, you would've guessed right?? After tabloids blowing up news on the cars that he's buying and sh*t....

Remember??? Some idiot managed to trespass into Istana Bukit Serene in Johor Bahru and attempted to steal the Johor Sultan’s LaFerrari Aperta...

Anyway back to the news on Johor Sultan's mega-pricey palace...

Fun Fact: Kevin Kwan, the author of Crazy Rich Asians, was inspired and wrote his characters – the Young family’s extravagant ancestral home based on THIS PALACE. YES.

This palace is located on a 210,875 square metre plot of land in the former Tyersall Park (Singapore).

Here’s some backstory:

  1. In 1990, the Singapore government bought part of the land for SGD25 million (RM75.3 million).
  2. This palace was also a military camp for the British during World War II. Three years after the war ended, the palace was returned to the then Sultan of Johor.
  3. Later in 2009, the Singapore government, again, bought another 98,000 square metre of the land. The sum was not revealed to the public.
  4. This Istana Woodneuk previously had a caretaker prior to 1990. However, it is now abandoned and in a ramshackle state.

Although the palace is worth USD3.5 billion, the Johor Crown Prince, sadly, would not be able to take advantage of the land’s high prices.

That particular land is reserved for “special use of green space”, so it means that this land CANNOT BE SOLD, IS NOT FOR RESIDENTIAL USE, AND IS NOT FOR COMMERCIAL USE.

With accordance to Christine Li, a senior director and head of research for Singapore at Cushman & Wakefield, “owning a piece of land in Singapore is certainly a privilege as land is the most precious resource in the city-state.”

This may be why land prices have increased so significantly along these years!

After the Istana Woodneuk has been abandoned, it is commonly a ‘lepak spot’ for drug addicts and adventurers. Rumours have spread about the palace that it is H A U N T E D.

Spooky.

The land may be highly priced but unfortunately, the Johor Crown Prince would not be able to make any profit from it.

Let us know your thoughts in the comment section below! wink

Izzuddin Zulkiflee wow

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