Generally, only Singaporean citizens can purchase high-quality villas. Xiang Yangyang and his mother He Xiuqin are Singaporean citizens and have settled locally.
The seller is a hedge fund manager named Nitin Sibal, who runs a software and application development company and also sets up a family office. He purchased this piece of land in 2020 and demolished the old western-style house to build a brand new one.
A high-quality western-style house located in Mindong Garden, District 10, was purchased by Xiang Yangyang, the daughter of Chinese businessman Xiang Guangda, for 84 million yuan, with a price of 2988 yuan per square foot.

Her father is Xiang Guangda, the chairman of Tsingshan Holding Group, a Chinese stainless steel and nickel product giant. Xiang Guangda ranks 248 on this years Hurun Global Rich List with a wealth of 67.5 billion yuan (12.7 billion Singapore dollars), and is the richest person in Chinas steel industry.

Singapore has 39 high-quality villa areas, with a total of approximately 2700 high-quality villas. The construction and design of these western-style houses are regulated by government authorities, for example, the land area cannot be less than 15070 square feet.

According to online data, Xiang Yangyang, who is in his thirties, is currently a non-executive director of REPT BATTERO Energy, a Hong Kong listed company. She has worked at Citi in Singapore, Golden Harbor International, and Dingxin Investment Company in Shanghai, China.

It is known that this brand new permanent land deed house is located at No. 5 Bin Tong Park, covering an area of 28111 square feet with a total construction area of 18000 square feet. The villa has six bedrooms, a 19 meter long swimming pool, as well as a living room, dining room, leisure space, and a basement. In addition, there is also a wine cellar, audio-visual room, and gym.