Actor Jackie Chan, who owns various properties in Singapore, has made S$3.7 million after selling The 50s entertainment complex in Tanjong Pagar.
According to a report from The Straits Times, Chan sold the building in April for S$12.5 million to a Singaporean friend who runs an investment company.
Having invested some S$8.8 million in the property in 1996, Chan made a profit of S$3.7 million from the transaction.
The report said that Chan had not planned to sell the property but his friend had repeatedly urged him and the actor finally agreed.
Chan is a familiar figure in the real estate market in Singapore, having acquired the former Jinriksha Station at the nearby 1 Neil Road for S$11 million in late 2007.
Recently, he and singer-songwriter Wakin Chau reportedly bought several apartments at the Twin Peaks condominium in Leonie Hill Road.
Chan purchased two one-bedroom units on one of the lower floors of the 35-storey project, while Chau acquired a unit on another floor.
Source : PropertyGuru – 21 Jun 2011