Nassim Road is widely regarded as Singapore’s most coveted residential address — a tree-lined enclave near Singapore Botanic Gardens that is synonymous with wealth, privacy and power. Good Class Bungalow (GCB) owners in the area include Prince Jefri Bolkiah, brother of the Sultan of Brunei; Cheong Pin Chuan, joint CEO of Hong Fok, who listed his Nassim property for $308 million in 2024; and Stephen Riady, executive chairman of OUE, who paid $95 million for a GCB there in 2019.

Riady is joined by Eduardo Saverin, co-founder of Facebook and a Singapore citizen, who is said to have acquired a GCB on Nassim Road for $230 million in 2019. In 2021, Jin Xiao Qun — wife of Nanofilm Technologies founder Shi Xu — paid $128.8 million for the GCB known as “Ladyvale Bungalow”, also located on Nassim Road. In 2023, members of the Fangiano family, the Indonesian group behind Singapore-listed palm oil producer First Resources, paid $206.7 million for a portfolio of three Nassim Road GCBs.

The street is also home to several embassies, including those of Japan, the Philippines and Russia.

A four-unit ‘estate’ on Nassim Road

Adjacent to the Russian embassy sits Nassim Quattro, a luxury apartment project on an elevated freehold site spanning 45,000 sq ft. Befitting its name, the development comprises just four expansive duplex residences. An 85m private driveway leads directly to a basement carpark for 12 cars.

Read also: Prime luxury residence on Nassim Road for sale - A tranquil Sanctuary and a lasting legacy

Nassim Quattro was developed by De Nassim, a special-purpose vehicle set up by businessman Kevin Kwee and his father, Peter Kwee. The elder Kwee is the owner of Group Exklusiv, a company that was once a high-end distributor for Renault and Volkswagen.

Designed by Italian architect Massimo Mercurio in a minimalist modern style, the development makes extensive use of travertine — from the façade to the internal walls, staircases and bathrooms. This is complemented by premium finishes and fittings, including Boffi kitchen countertops and Gaggenau appliances, as well as granite vanity tops in the bathrooms, marble flooring in the living and dining areas, and rosewood timber flooring in the bedrooms.

Each duplex residence comes with five en suite bedrooms, a double-volume living room, a private swimming pool, a private lift and two dedicated basement parking spaces. The units are interlocked vertically to create distinct volumetric spaces.

The two ground-level units have strata areas of 7,384 and 7,556 sq ft, respectively. The second-floor unit spans 8,536 sq ft, while the largest residence is on the third and highest level. It is a 13,003 sq ft duplex penthouse, complete with a private roof terrace, swimming pool and entertainment area with panoramic views of the neighbourhood.

Despite being completed in 2017, the development has never been occupied.

Relaunch amid renewed foreign interest

Leong Boon Hoe, CEO of Arcadia Consulting, the exclusive marketing agent for Nassim Quattro, first launched the project four years ago. He is now relaunching it for sale by private treaty, citing renewed interest from ultra-wealthy foreign nationals — primarily Chinese buyers who are Singapore permanent residents.

“We’ve had several buyers looking at purchasing two units to combine into a single 10-bedroom residence, while others are exploring the possibility of amalgamating all four units into a single villa of up to 20 bedrooms,” he says.

Read also: Dalvey Estate GCB up for sale at $60 mil

The asking price for all four units collectively is $250 million. Based on the total strata area of 36,479 sq ft, this translates to $6,853 psf.

For buyers considering two-unit combinations, there are two possible permutations. One option is to amalgamate the 7,556 sq ft ground-level unit with the 13,003 sq ft penthouse above to create a 20,559 sq ft villa, priced at $144 million ($7,004 psf).

Alternatively, the other ground-level unit of 7,384 sq ft can be combined with the 8,536 sq ft, second-floor unit to form a 15,920 sq ft residence, priced at $106 million ($6,658 psf).

Buyers may also reconfigure the interiors — for instance, converting lower floors into expansive entertainment spaces while retaining upper levels as private family quarters.

“Ultra-high-net-worth individuals are looking for not just large-format homes, but the flexibility to suit their lifestyle needs,” says Leong. “With just four units, Nassim Quattro delivers that exclusivity.”

For some buyers, there is even the possibility of transforming the property into a villa with up to 20 bedrooms — akin to a GCB, he adds. Redevelopment into a GCB would be subject to feasibility studies and regulatory approval. The $250 million price tag works out to $5,556 psf based on the land area of 45,000 sq ft.

Read also: Cable Road bungalow lists for $60,000 in a more subdued GCB rental market

“The greatest potential of the site lies in its future reconfiguration or redevelopment into a GCB,” says Leong. “For the future owner, it presents both long-term value and wealth protection.”

Larger-format luxury apartments gaining traction

Meanwhile, demand for sizeable non-landed luxury residences has also been rising, notes Leong, with buyers increasingly exploring the purchase of adjacent units for amalgamation into bespoke large-format homes.

The latest example is the sale of two units at Seven Palms in Sentosa Cove, with a combined strata area of 8,794 sq ft, for $23.89 million ($2,717 psf), as per a caveat lodged at the end of January. The 99-year leasehold development by SC Global comprises just 41 units and was completed in 2013.

At The Ritz-Carlton Residences, two adjacent 3,057 sq ft, four-bedroom units on the 33rd floor were sold for $16.5 million ($5,397 psf) each in January 2024. The buyers intended to reconfigure them into a single large apartment.

In June 2023, a buyer purchased two units at Les Maisons Nassim, both on the first and second levels of the same stack. The 6,092 sq ft, first-floor unit was acquired for $30.76 million ($5,050 psf), while the 6,179 sq ft unit above fetched $32.75 million ($5,300 psf), bringing the combined transaction value to $63.51 million.

Stamp duty considerations

Those considering multiple-unit purchases will have to factor in stamp duties. Buying the shares of De Nassim — a Singapore company holding residential property — would incur a 6% buyer’s stamp duty (for residential property exceeding $3 million) and 65% additional conveyancing duty, which is the equivalent of the additional buyer’s stamp duty (ABSD), bringing the total to 71%, according to a legal expert who requested anonymity.

If a Singapore citizen who does not own any residential property purchases all four units individually, there would be no additional buyer’s stamp duty (ABSD) on the first unit. However, the second unit would incur 20% ABSD, while the third and fourth units would each attract 30% ABSD.

A Singaporean buyer intending to acquire the entire 45,000 sq ft site and amalgamate the strata units into a single title may potentially qualify for ABSD remission if the seller is agreeable. “The parties could consider entering into a put-and-call option agreement, subject to the buyer obtaining confirmation of ABSD remission,” the legal expert says.

Luxury new home sales more than doubled last year

According to Huttons Prestige’s Feb 5 report, transaction volume in the luxury non-landed segment rose 41.3% y-o-y to 294 units in 2025, up from 208 units in 2024.

Luxury new home sales more than doubled to 50 units, driven by launches such as 21 Anderson, Skywaters Residences, UpperHouse at Orchard Boulevard and W Residences Marina View — Singapore.

The total value of luxury non-landed homes sold reached $2.6 billion in 2025, a 55.9% increase from $1.6 billion the year before. Notably, 27 transactions were valued at $10 million or more — double the 13 recorded in 2024.

Among them, 21 Anderson achieved the highest transaction value, with its two 10,452 sq ft penthouses sold for $52.25 million ($4,999 psf) each.

Park Nova, meanwhile, set the year’s highest psf benchmark at $6,593.

In comparison, the GCB segment recorded $1.3 billion in total transaction value in 2025, just 5.2% lower than in 2024.

If Nassim Quattro achieves its asking price, it could set a new price benchmark within Singapore’s most prestigious residential enclave.

For more news and analysis, read our weekly e-paper. Prefer a print copy? Get it delivered to your home every Monday.