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The three properties, located at 70, 71, and 72 Duxton Road, collectively span 300 square meters, which translate to a price of $123,333 per square meter, the Business Times reported.
This is nearly four times pricier than similar shophouses on Duxton Road, a well-known dining hub in Singapore, which are usually listed at below $32,280 per square meter.
These three-floor buildings are currently undergoing a renovation.
Post-construction, the ground floor of these establishments will be transformed into a restaurant, while the upper floors will be utilized as office space.
Zhang, a naturalized Singapore citizen, is currently the director of the three firms that own the adjoining shophouses, Bloomberg reported.
She played a crucial role in Chinese tech giant Alibaba, having borrowed $1.4 million to start the company and helped run it during its early stages.
As of February 22, Jack Ma, Alibaba’s co-founder, has a net worth of $24.8 billion, according to Forbes.
Aside from Ma, other Chinese billionaires have shown interests in Singapore’s real estate in recent years.
This includes hot pot chain Haidilao co-founder Yonghong Shi, who spent millions of dollars to acquire premium properties near the Singapore Botanic Gardens last year.
