Amtel Founder Sells S$28 million House to Omni United Boss
Amtel Group founder Sudhir Gupta has reportedly sold a so-called “good quality bungalow” to Sareen Gajendra Singh who owns Omni United (S) Pte Ltd. According to local Business Times newspaper, the $28 million (Singapore dollar) sale of the property in the Binjai Park area of Singapore accounts for more than 5 per cent of total first quarter property sales in the “good quality bungalow” sector of the local market. The paper reports that this segment of the domestic property market recorded sales of S$500 million in the first quarter of 2010.
Having founded the Amtel group Dr Sudhir Gupta, stepped down as chairman of Amtel Vredestein’s supervisory board on 31 August 2007. At the time he told reporters: “My decision to resign from the board of directors of Amtel-Vredestein is the result of my desire to pursue other business interests.” One of his main continuing business interests – as this story shows – is real estate.
In 2006, Forbes named Dr Gupta (PhD in agricultural chemistry) who was born in India, but is a Singaporean citizen as his adopted homeland’s 13th richest person, with a net worth estimated to be $320 million at the time.
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