Billionaire James Dyson buys Singapore's most expensive penthouse at S$73.8 million

British billionaire James Dyson – of Dyson vacuum cleaner fame – has purchased the most expensive penthouse in Singapore. The inventor of the bagless vacuum cleaners bought the three-storey penthouse situated on a 62^nd to 64^th floor Wallich Residence. The penthouse comes complete with a private infinity pool, jacuzzi, barbecue pit, and private lift lobby.
The Business Times reported that Dyson bought the property for a whopping S$73.8 million. Reuters reported that Dyson and his wife became tenants of the 99-year leasehold property on 20 June 2019.
Dyson had announced in January that he is moving his headquarters from Britain to Singapore to be closer to the company’s fastest-growing markets. The company, which also makes bladeless fans, air purifiers and hair dryers, plans on building its first electric car in Singapore.
According to Reuters, before the penthouse was unveiled in 2017, the highest asking price for the property reached S$100 million, making it Singapore’s most expensive penthouse.
“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,” a Dyson spokesman told Reuters.
According to Bloomberg, as the Dyson couple are reportedly permanent residents of Singapore, they don’t have to pay the increased levies imposed on foreigners buying property on the island.