Andre Tanoto, the eldest son of Indonesian billionaire Sukanto Tanoto, has acquired a bungalow on Fernhill Road for S$21 million. This purchase translates to a price of S$2,549 per square foot, based on the freehold land size of 8,238 square feet.

The property, located near the prestigious Nassim Road Good Class Bungalow (GCB) Area, lies within a zone that permits the development of three-storey mixed-landed properties. This zoning allows for the construction of various types of housing, including terraces, semi-detached homes, and bungalows.

Real estate analysts speculate that Andre Tanoto plans to rebuild the bungalow, creating a new home for himself on the site.