Scotts HighPark has two towers of 19-storeys and 27-storeys and was completed in 2009 (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Contrary to popular opinion, some foreigners will shell out 60% ABSD for a freehold condo in Singapore’s prime districts. Among the first to do so is Indonesian billionaire Dewi Kam, with a net worth estimated by Forbes at US$4.2 billion. The self-made billionaire is said to be the 21st richest in Indonesia, and her wealth comes from her minority stake in the Indonesian-listed coal mining company Bayan Resources.